Aug. 14
U.S. Treasury and Energy officials unveiled a program Aug. 13 that
will award $2.3 billion in tax credits to manufacturers of advanced
energy -- or so-called green-energy equipment.
"This program will help encourage innovation in design of clean energy
technologies," said Treasury Secretary Tim Geithner.
The American Recovery and Reinvestment Act created a new tax credit
program by authorizing Treasury to provide developers with an investment
tax credit of 30% for facilities that manufacture particular types of
energy equipment. Qualifying manufactures will produce solar, wind, and
geothermal energy equipment; fuel cells, microturbines, and batteries;
electric cars; electric grids to support the transmission of renewable
energy; energy conservation technologies, and equipment that captures
and sequesters carbon dioxide or reduces greenhouse gas emissions.
The manufacturing tax credit is capped at $2.3 billion, and credits are
available for two years or until the cap is reached.
Companies can get program details and information about applying for the
tax credit at http://www.energy.gov/recovery/48C.htm.
Contact Waste & Recycling News senior reporter Bruce Geiselman at
330-865-6172 or
bgeiselman@crain.com
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