The Department of Energy (DOE) and Department of the Treasury have announced a second phase in the qualifying advanced energy property program. The second phase will make $150 million in Advanced Energy Manufacturing Tax Credits available for clean energy and energy efficiency manufacturing projects across the United States. This credit was established to support investment in domestic, clean energy and energy efficiency manufacturing facilities.
Claims for the credit will be assessed by the DOE based on the following criteria: commercial viability, domestic job creation, technological innovation, speed to project completion, and potential for reducing air pollution and greenhouse gas emissions. Additional factors include diversity of geography, technology, project size, and regional economic development. In order to be considered for an allocation of credits in Phase II, taxpayers must submit concept papers to the DOE by April 9, 2013, and applications to the DOE and Internal Revenue Service by July 23, 2013.
If you have any questions, please contact Nathaniel Kupferman at nkupferman@brg-expert.com or 202.480.2710.
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