The Advanced Energy Manufacturing Tax Credits — commonly referred to as 48C — was established by the Recovery Act to support investment in domestic clean energy and energy efficiency manufacturing facilities through a competitively awarded 30 percent investment tax credit.
On February 7, the U.S. Departments of Energy and the Treasury announced that $150 million in Advanced Energy Manufacturing Tax Credits for clean energy and energy efficiency manufacturing projects have been released. The funds are being made available because they were not used by the previous awardees. The program supports manufacturing of a range of clean energy products, from renewable energy equipment to energy-efficiency products to advanced energy storage and carbon capture technology. A full list of eligible projects is included in the 48C Manufacturing Tax Credit fact sheet.
DOE will be hosting a webinar on the 48C Phase II Program for potential applicants on
February 12 at 2 p.m. Eastern time. UPDATE: On February 12, DOE announced it had rescheduled the webinar for February 19 at 2 p.m. ET. To register for the February 19 session, register here.
This initial webinar will provide information about how to prepare the concept paper. (Applicants who are subsequently invited to submit a Full Application will also be invited to a webinar addressing that stage of the process.) Participants will have the opportunity to submit written questions during the webinar. Answers will be posted on the IRS website and on DOE's eXCHANGE system under the 48C Phase II opportunity announcement.
The remaining tax credits will be allocated on a competitive basis, according to the DOE's Advanced Manufacturing Office. Selection criteria includes commercial viability, domestic job creation, technological innovation, speed to project completion, and potential for reducing air pollution and greenhouse gas emissions. The full solicitation is available on the IRS website.
Manufacturers may send questions about the program to the IRS by fax at (713) 209-3964 or leave a message at (713) 209-3669.