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Funding Resources
Funding Resources
| Advanced Energy Manufacturing Credit | |
|---|---|
| Type of Incentive | Tax |
| Eligible States | National |
| Eligible Technology | Backpressure Turbine, Stirling Engine |
| Eligible Fuel | # 2 Fuel Oil, Waste heat Recovery |
| Eligible Project Size | All (MW) |
| Critical Information | The ARRA authorizes the Department of the Treasury to issue $2.3 billion of credits under the program. In any taxable year, the investment tax credit is equal to 30 percent of the qualified investment required for an advanced energy project that establishes, re-equips, or expands a manufacturing facility that produces any of the following: (1) Equipment and/or technologies used to produce energy from solar, wind, geothermal, or other renewable resources; (2) Fuel cells, microturbines, or energy-storage systems for use with electric or hybrid-electric motor vehicles; (3) Equipment used to refine or blend renewable fuels; (4) Equipment and/or technologies to produce energy-conservation technologies (including energy-conserving lighting technologies and smart grid technologies). On August 13, 2009, the Department of the Treasury announced the availability of funds under the program. The application period opens August 14, 2009. Preliminary applications are due to DOE September 16, 2009, followed by final applications being due to DOE and IRS on October 16, 2009. By January 15, 2010, IRS will certify or reject applications, and notify the certified projects with the approved amount of their tax credit. Awardees will receive acceptance agreements from the IRS by April 16, 2010. Credits will be allocated until the program funding ($2.3 billion) is exhausted. Subsequent allocation periods will depend on remaining funds. |
| Start Date | 2/17/2009 |
| End Date |
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| Minimum Efficiency (%) |
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| Additional Information | Qualified investments generally include personal tangible property that is depreciable and required for the production process. Other tangible property may be considered a qualified investment only if it is an essential part of the facility, excluding buildings and structural components. To be eligible for the tax credit, a project must be certified by the Department of the Treasury. In determining which projects to certify, the ARRA directs the Department of the Treasury to consider those projects that most likely will: (1) Be commercially viable; (2) Provide the greatest domestic job creation; (3) Provide the greatest net reduction of air pollution and/or greenhouse gases; (4) Have the greatest potential for technological innovation and commercial deployment; (5) Have the lowest levelized cost of generated (or stored) energy or the lowest levelized cost of reduction in energy consumption or greenhouse gas emissions; (6) Have the shortest project time from certification to completion. After certification is granted, the taxpayer has up to one year to provide additional evidence that the requirements of the certification have been met and three years to put the project in service. |
| Web Site |
http://www.energy.gov/recovery/48C.htm |
| Additional Web Site |
http://www.dsireusa.org/incentives/incentive.cfm?Incentive_Code=US52F&re=1&ee=1 |
| Primary Contact |
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