The US Department of Energy announced $150 million in clean energy tax credits to 12 companies for investment in domestic manufacturing equipment today at the American Energy and Manufacturing Competitiveness Summit, a joint initiative of the DOE and the Council on Competitiveness.
The Advanced Energy Manufacturing Tax Credit program – with $2.3 billion in total funding – gives the US Treasury Department the authority to provide a 30% investment tax credit for manufacturing clean energy equipment. Today’s announcement marks the second phase of the program. The first phase awarded tax credits to 183 domestic clean energy manufacturing facilities.
Some examples of awardees include:
- Carrier Corporation received $5.1 million in tax credits to expand production at its Indianapolis facility, which makes eco-friendly condensing gas furnace products, including the most energy efficient gas furnaces on the market.
- Corning Incorporated received $30 million in tax credits to expand the capacity of its diesel emissions control products facility in Erwin, New York, with products for heavy-duty diesel engine, truck, construction and agricultural equipment.
- Natel Energy received more than $2MM in tax credits to equip a facility in California to produce low-head, high-flow hydroelectric turbines for new, distributed, utility-scale hydropower projects and retrofitting dams and irrigation canals.
You can see the full list of awards here.
