Billions in manufacturing tax credits for clean energy

Aug. 18, 2009
The U.S. Depts. of Treasury and Energy have announced a program to award $2.3 billion in tax credits to manufacturers of advanced, clean energy equipment

The U.S. Depts. of Treasury and Energy have announced a program to award $2.3 billion in tax credits to manufacturers of advanced, clean energy equipment. Qualifying manufacturers will produce electric cars; electric grids to support the transmission of renewable energy; energy conservation technologies; solar, wind and geothermal energy equipment; fuel cells, micro-turbines and batteries; and equipment to capture and sequester carbon dioxide or reduce greenhouse gas emissions.

The American Recovery and Reinvestment Act created the new tax credit program by authorizing the U.S. Treasury to provide developers with an investment tax credit of 30% for facilities that manufacture particular types of energy equipment. The manufacturing tax credit is capped at $2.3 billion and credits are available for two years or until the cap is reached.

Companies can file applications for the first round of credit awards through October 16, 2009 and can expect to learn whether their applications are successful by January 15, 2010.

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

Cybersecurity is no longer a side concern or an issue just for the big guys.
Downtime is expensive. This guide shows you how to keep your eet running, reduce repair surprises, and protect your margins—because when your trucks aren’t moving, you’re not...
Learn how fast oil changes can optimize vehicle downtime for fleet owners. Improve revenue and employee productivity while ensuring customer satisfaction with efficient maintenance...
Unlock proven strategies to streamline operations, lead your team, and keep your eet moving forward – all in one guide.