|Policy Status||In force|
|Agency||•U.S. Department of the Treasury|
|Funding||Up to USD2.3 billion in credits allocated|
•Taxes and Tax Incentives
•Multiple Renewable Energy Sources
|Policy Sector||•Multi-sectoral Policy|
|Description||The U.S. Treasury Department's Advanced Energy Manufacturing Tax Credit established by the American Recovery and Reinvestment Act of 2009, provides a new 30% investment tax credit for facilities engaged in the manufacture of advanced energy property.
Advanced energy property includes technology for the production of renewable energy, energy storage, energy conservation, plug-in/hybrid motor vehicles, efficient transmission and distribution of electricity, carbon capture and sequestration, and other advanced energy property designed to reduce GHG emissions.
USD2.3 billion in tax credits are available for projects through a competitive bidding process. This program provides credits for investments in 183 manufacturing facilities for clean energy products across 43 states.
|Legal References||American Recovery and Reinvestment Act of 2009, Div. B, Title I, Sec. 1302|