Start Applying for 30% Tax Credit for Clean Energy Manufacturing

Greentech Media (8/13, Wang) – The U.S. Department of Treasury on Thursday launched a program to provide a 30 percent manufacturing tax credit for producing renewable energy, energy storage and other clean energy equipment. The American Recovery and Reinvestment Act created the program to give manufacturers a financial boost and create jobs. The government is capping the two-year program's spending at $2.3 billion. The tax credit would go to those who invest in building new or expanding existing factories. Projects that replace older factory equipment also would qualify…The program is available to a wide range of manufacturers, including those in solar, wind, geothermal, fuel cells, batteries, smart grid, plug-in hybrid cars and components, renewable fuel refining, energy efficient lighting, and carbon capture and sequestration. The Treasury department will accept preliminary applications from Aug. 14 through Sept. 16 this year (see program details).