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Tax Credit News: Start Applying for 30% Tax Credit for Clean Energy Manufacturing
09/21/2009
Attention green manufacturers! The U.S. Department of Treasury on August 13, 2009, 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
- Carbon capture and sequestration.
The Treasury department accepted preliminary applications from Aug. 14 through Sept. 16 this year. Learn more about the program here: http://www.energy.gov/recovery/48C.htm
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