BlueGreen Alliance | Advanced Energy Project Credit (Section 48C)

Advanced Energy Project Credit (Section 48C)

The Advanced Energy Project Credit, or Section 48C, provided $2.3 billion for qualified investments in advanced, clean energy projects, to support new, expanded, or re-equipped domestic manufacturing facilities, creating jobs and spurring economic growth.

January 26, 2012

Competition for clean energy manufacturing is fierce, especially from countries with established industrial policies that provide long-term, consistent support to their domestic clean energy sectors. We are at a point with the clean energy sector where we must take action to keep pace. While we must continue to foster demand for clean energy production—through tax credits, grants, a carbon price, and a federal renewable electricity standard—we must also continue to directly support our clean energy manufacturing sector.

The Advanced Energy Project Credit (48C) has proven successful in generating clean energy manufacturing growth, yet funding dried up well over a year ago. We must build off the success of this tax credit and provide additional funding to keep our clean energy manufacturing sector vital sector growing.

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