New Treasury Guidance Lays Foundation for Revitalizating US Industry and Manufacturing
The U.S. Treasury Department yesterday released guidance for $10 billion of credits for the advanced energy projects 48C(e) program. The department outlined the goals of the program, including expanding U.S. manufacturing capacity and quality jobs for clean energy technologies; reducing greenhouse gas emissions in the U.S. industrial sector; securing domestic supply chains for critical materials that serve as inputs for clean energy technology production; and driving investments into energy communities.
In response, the BlueGreen Alliance released the following statement from Executive Director Jason Walsh:
“The groundwork is being laid for an industrial and manufacturing revitalization in our country, including in the places hardest hit by our energy transition and the loss of good manufacturing jobs overseas. By prioritizing community and labor engagement, today’s guidance will help ensure that we’re moving forward to address climate change, reduce pollution, and grow good-paying jobs while manufacturing our clean energy future here at home. The Biden administration continues to deliver for workers and the environment and we look forward to seeing billions of dollars in investments around the country—especially in areas that have seen deindustrialization or a loss of jobs due to the shift to cleaner, cheaper forms of energy.”