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Incentives/Policies for Renewables & Efficiency

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Qualifying Advanced Energy Manufacturing Investment Tax Credit   

Last DSIRE Review: 02/13/2013
Program Overview:
State: Federal
Incentive Type: Industry Recruitment/Support
Eligible Efficiency Technologies: Clothes Washers, Dishwasher, Refrigerators, Water Heaters, Lighting, Lighting Controls/Sensors, Chillers , Heat pumps, Central Air conditioners, Heat recovery, Programmable Thermostats, Energy Mgmt. Systems/Building Controls, Duct/Air sealing, Windows, Roofs, Custom/Others pending approval, Unspecified Technologies, Commercial Refrigeration Equipment, Data Center Equipment, Energy Conservation Technologies; Smart Grid
Eligible Renewable/Other Technologies: Solar Water Heat, Solar Thermal Electric, Solar Thermal Process Heat, Photovoltaics, Wind, Geothermal Electric, Fuel Cells, Geothermal Heat Pumps, Batteries and Energy Storage; Advanced Transmission Technologies that Support Renewable Energy Generation, Renewable Fuels, Fuel Cells using Renewable Fuels, Microturbines
Applicable Sectors: Commercial, Industrial, Manufacturing
Amount:30% of qualified investment
Maximum Incentive:$30 million
Funding Source:The American Recovery and Reinvestment Act of 2009
Program Budget:2013: $150 million ($2.3 billion total)
Start Date:02/17/2009
Web Site: https://eere-exchange.energy.gov/#FoaIdcf1c50e7-2b9f-4b29-9cfa-6a...
Authority 1:
Date Enacted:
Date Effective:
26 USCS ยง 48C
02/17/2009
02/17/2009
Authority 2:
Date Enacted:
Date Effective:
IRS Notice 2013-12 Qualifying Advanced Energy Project Credit Phase II
02/07/2013
02/07/2013
Summary:

2013 Update: Phase II of the Qualifying Advanced Energy Project is open.  Required concept papers are due to the U.S. Department of Energy (DOE) by April 9, 2013. The U.S. DOE will review concept papers and select which companies will be allowed to submit a full application. Applications are due July 23, 2013.  Concept papers and applications must follow guidelines and are to be submitted electronically via the EERE eXCHANGE web site (see web link above).

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 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, microturbines or energy-storage systems for use with electric or hybrid-electric motor vehicles
  • Equipment used to refine or blend renewable fuels
  • Equipment and/or technologies to produce energy-conservation technologies (including energy-conserving lighting technologies and smart grid technologies)*

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.

Based on recommendations from the U.S. DOE, the U.S. Treasury Department (Treasury) will issue certifications for qualified investments eligible for credits to qualifying advanced energy project sponsors. After certification is granted, the taxpayer has one year to provide additional evidence that the requirements of the certification have been met and three years to put the project in service. There are provisions for credit recapture for non-compliance. There is a total of $150 million available for this phase of the Advanced Energy Manufacturing Tax Credit program.

In determining which projects to certify, the U.S. DOE and Treasury must consider those which most likely will be commercially viable, provide the greatest domestic job creation, provide the greatest net reduction of air pollution and/or greenhouse gases, have great potential for technological innovation and commercial deployment, have the lowest levelized cost of generated (or stored) energy or the lowest levelized cost of reduction in energy consumption or greenhouse gas emissions, and have the shortest project time.

Any taxpayer receiving this credit may not also receive the federal business energy investment tax credit.


* This credit could be expanded in the future to include other energy technologies that reduce greenhouse gas emissions, as determined by the U.S. Treasury Department.


 
Contact:
  Marc Bernabo
IRS
Section 48C Phase II Program
Washington D.C., US
Phone: (713) 209-3669
Fax: (713) 209-3964
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.