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

 @ibtimes
on January 08 2010 4:08 PM

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)

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