New York Times (Rudolf) - President Obama announced on Friday the award of $2.3 billion in tax credits for clean energy manufacturing — part of a broader push by his administration to stimulate job growth during the highest period of sustained unemployment in decades. The tax credits are worth up to 30 percent of the cost of each project, resulting in a total investment of about $7.7 billion. Funding for the tax credits will come from the $787 billion economic recovery package approved by Congress in early 2009.
Tax credits were awarded to 183 projects in 43 states, and will create more than 17,000 jobs in clean technology manufacturing, the White House said. The projects must be in service by 2014, but approximately 30 percent of them will be completed by 2010, the administration estimated.
Department of Energy - As part of an innovative partnership between the Departments of Treasury and Energy, the two cabinet agencies worked together to develop, launch, and award the funds for this program in record time. The Advanced Energy Manufacturing Tax Credit authorized Treasury to provide developers with an investment tax credit of 30% for facilities that manufacture particular types of energy equipment. Qualifying manufacturers will produce solar, wind, and geothermal energy equipment; fuel cells, microturbines, and batteries; electric cars; electric grids to support the transmission of renewable energy; energy conservation technologies; and equipment that captures and sequesters carbon dioxide or reduces greenhouse gas emissions.
One hundred eighty three projects have been selected for the tax credit today. See the full list of selected projects (Excel 115 KB).
Monday, January 11, 2010
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