The Energy Department announced that $150 million will be available this year in Advanced Energy Manufacturing Tax Credits. These are available for clean energy and energy efficiency manufacturing projects based in the United States.
Established by the American Recovery and Reinvestment Act, the Advanced Energy Manufacturing Tax Credit aims to improve American clean energy companies and ensure that they can compete globally, as well as to help create jobs in the United States in the clean energy industry.
How can your company receive this credit?
The credits are very competitive, and companies will be assessed based on several criteria:
- High commercial viability
- High domestic job creation
- High potential for technological innovation
- Fast speed to project completion
- High impact in reducing air pollution and greenhouse gas emissions
Qualifying clean energy can fall into a wide range of categories, including solar energy, fuel cells and equipment for refining renewable fuels. Additionally, the Secretary of the Treasury may determine that other energy property not included on this list may be eligible as well.
The application period falls between February 7, 2013 and July 23, 2013.
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