WASHINGTON – On Friday, President Obama announced the award of $2.3 billion in Recovery Act Advanced Energy Manufacturing Tax Credits for clean energy manufacturing projects across the United States. There are 183 projects in 43 states will create tens of thousands of high-quality clean energy jobs and the domestic manufacturing of advanced clean energy technologies including solar, wind and efficiency and energy management technologies.
These tax credits are focused on putting Americans back to work by building a robust domestic manufacturing capacity to supply clean and renewable energy projects with American made parts and equipment.
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 percent 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.
Among the automotive suppliers to receive funding for these projects are PPG Industries, Think North American, Rogers Foam Automotive Corp. and ZF Steering Systems. For a full list of selected projects, CLICK HERE.
