Competition for Clean Energy Tax Breaks Announced by Federal Government

The U.S. Departments of Energy and Treasury recently announced the availability of $150 million in Advanced Energy Manufacturing tax credits, also known as the 48C program. The 48C program provides manufacturers with a 30 percent investment tax credit in manufacturing operations and equipment aimed at producing clean energy technologies.

The program supports the manufacture of components for renewable energy, electric grids and storage, carbon capture and sequestration, energy conservation and other equipment that reduces greenhouse gas emissions. Concept papers are due by April 9, 2013. DOE will evaluate the concept papers and then recommend whether the applicant should submit a complete application. The program will close on July 23, 2013.

Projects will be evaluated across a number of variables, including job creation, net impact in avoiding or reducing greenhouse gas emissions, lowest cost of energy, technological innovation, commercial deployment and project time.