Louis A. Santiago is a Partner in our Portland office and David H. Mann is a Sr Public Affairs Advisor in our Washington, D.C. office.
The Department of Energy and Department of Treasury announced on February 7, 2013, that they have $150 million in leftover/returned tax credits available for Clean Energy Manufacturers under the Section 48C Advanced Energy Manufacturing Tax Credit program that was part of the American Recovery and Reinvestment Act of 2009.
The DOE notice states: "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." These remaining tax credits will be allocated on a competitive basis. Projects will be assessed by the DOE based on the following criteria: commercial viability, domestic job creation, technological innovation, speed to project completion, and potential for reducing air pollution and greenhouse gas emissions. The DOE will also consider additional factors including diversity of geography, technology, project size, and regional economic development.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
