Department of Energy’s Manufacturing Tax Credit Award Doubles Down on Clean Energy Manufacturing Expertise
The Department of Energy announced it is awarding $150 million as part of the Advanced Energy Project Credit (48C) program, building on the success of a program that was initially oversubscribed three times over.
WASHINGTON, DC (December 12, 2013) – Today, the Department of Energy announced it is awarding $150 million as part of the Advanced Energy Project Credit (48C) program. The award re-launches an effort to encourage manufacturers to produce clean energy technologies. The following is a statement from BlueGreen Alliance Executive Director David Foster:
“We applaud the decision to bring back a wildly successful program that in its first round was credited for creating at least 17,000 jobs. Programs like 48C and other Recovery Act programs have helped to bring about a resurgence in the manufacturing sector. The round of funds released today will continue to build on the gains we’ve made over the past few years by making communities a magnet for jobs and by investing in the future of thousands of skilled workers.
“Companies like Corning, General Motors and Ford Motor Company are deserving recipients of these awards because they are part of the fabric of what has made manufacturing great in this country. Utilizing these previously rescinded funds from the 48C program is a chance to again show that once the playing field is level, American manufacturing has a leg up on the global competition. We need to build on this success and have Congress appropriate another $5 billion for this program that was initially oversubscribed three times over.”