Factbox: New U.S. clean energy manufacturing tax credits

  @ibtimes on

President Barack Obama on Friday awarded $2.3 billion in tax credits, which will be matched by as much as $5.4 billion in private sector funding, to help create clean energy manufacturing jobs.

The funding will provide a 30 percent tax credit for investments in 183 manufacturing facilities that make clean energy products in 43 states.

Qualifying manufacturing facilities include the production of a wide range of clean energy products:

* Solar, wind, geothermal, or other renewable energy equipment.

* Electric grids and storage for renewables.

* Fuel cells and microturbines.

* Energy storage systems for electric or hybrid vehicles.

* Carbon dioxide capture and sequestration equipment.

* Equipment for refining or blending renewable fuels.

* Equipment for energy conservation, including lighting and smart grid technologies.

* Plug-in electric vehicles or their components, such as electric motors, generators, and power control units.

* Other advanced energy property designed to reduce greenhouse gas emissions may also be eligible as determined by the Treasury Department.

The criteria used to select winning projects was based on:

* Greatest domestic job creation (direct and indirect).

* Greatest net impact in avoiding or reducing air pollutants or emissions of greenhouse gases; lowest cost of energy.

* Greatest potential for technological innovation and commercial deployment.

* Shortest project time from certification to completion.

(Reporting by Tom Doggett, editing by Eric Walsh)

Join the Discussion
Nintendo's Newest Kirby Game Is A Total Detour
Nintendo's Newest Kirby Game Is A Total Detour
Fitbit's First Activity Watch Falls Short
Fitbit's First Activity Watch Falls Short
Dying Light Is The Spiritual Successor To 'Dead Island'
Dying Light Is The Spiritual Successor To 'Dead Island'
The Last Mitsubishi Evolution
The Last Mitsubishi Evolution
The i8 Is Proof BMW Should Make More Mid-Engined Cars
The i8 Is Proof BMW Should Make More Mid-Engined Cars
QD Vision Shows Off Cheap 4K TVs
QD Vision Shows Off Cheap 4K TVs

More Video