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August 16, 2009

Feds Pump $2.3 Billion into Clean Energy Manufacturing

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Filed under : Enviornment News

New 30% tax credit for advanced energy manufacturing industries

The Department of Energy on Thursday released the details of a new $2.3 billion manufacturing tax credit, enacted earlier this year as part of the Recovery and Reinvestment Act. The tax credit of 30% is for investment in new renewable energy manufacturing facilities and re-equipped or expanded facilities.

The idea behind the stimulus is to grow the domestic manufacturing industry for clean energy, stimulating economic growth, creating jobs, reducing greenhouse gas emissions and building a long-term strategy for addressing them.

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