Tax Credits for Renewable Energy Manufacturing Sector
Date: 2/19/13
The American Recovery and Reinvestment Act of 2009 established an investment tax credit to encourage the development of a U.S.-based renewable energy manufacturing sector. The additional allocations will utilize $150 million remaining tax credits that were never fully monetized by previous awardees. The investment tax credit is equal to 30% of the qualified investment required for an advanced energy project that establishes, re-equips or expands a manufacturing facility that produces any of the following:

- Equipment and/or technologies used to produced energy from the sun, wind, geothermal or "other" renewable resources

-Fuel cells, micro-turbines or energy-storage systems for use with electric or hybrid-electric motor vehicles

-Energy-conserving lighting technologies and smart grid technologies

- Electric grids and storage for renewables

- Fuel cells and micro-turbines

- Carbon dioxide capture and sequestration equipment

- Equipment for refining or blending renewable fuels

- Equipment for energy conservation, including lighting and smart grid technologies

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

Qualified investments generally include personal tangible property that is depreciable and required for the production process. Other tangible property may be considered a qualified investment only if it is an essential part of the facility, excluding buildings and structural components.

The application period for certification ends on July 23, 2013. However, concept papers for DOE consideration must be submitted by April 9, 2013.
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