President Obama has announced awardees of the clean energy manufacturing tax credit in the American Recovery and Reinvestment Act. The tax credit will provide a 30% credit for investments in manufacturing facilities for clean energy technologies at 183 locations across 43 states. According to the announcement, Recovery Act investments of up to $2.3 billion for advanced energy manufacturing facilities will generate more than 17,000 jobs. This investment will be matched by as much as $5.4 billion in private sector funding likely supporting up to 41,000 additional jobs.
Qualifying manufacturing facilities include the production of a wide range of clean energy products. Included are solar, wind, geothermal, or other renewable energy equipment; electric grids and storage for renewable energy: carbon dioxide capture and sequestration equipment; equipment for refining or blending renewable fuels; and other advanced energy property designed to reduce greenhouse gas emissions may also be eligible as determined by the Secretary of the Treasury.