Dive Summary:
- The U.S. departments of Energy and the Treasury have announced the availability of $150 million in Advanced Energy Manufacturing Tax Credits for clean energy.
- The current credits are available because the funds were not initially used by the American Recovery and Reinvestment Act, which had previously provided $2.3 billion in credits to 183 companies.
- The Department of Energy has reported that the U.S. has more than doubled its renewable energy generation recently and has added 500,000 jobs since 2010; these figures are expected to continue to grow thanks to these tax credits.
From the article:
According to the Department of Energy, the U.S. has more than doubled energy generation from wind, solar and geothermal sources over the past four years. The department also noted the U.S. manufacturing sector has added 500,000 jobs since 2010, and the tax credits will help continue the growth in both manufacturing jobs and renewable energy production.
These remaining tax credits will be allocated on a competitive basis. Projects will be assessed by the Department of Energy based on commercial viability, domestic job creation, technological innovation, speed to project completion and potential for reducing air pollution and greenhouse gas emissions. ...