Energy Dept to Offer $150M in Clean Energy Tech Tax Credits; Ernest Moniz Comments

1 min read
Department of Energy

DOEThe Energy Department is granting $150 million in tax credits to 12 companies that invest in clean energy manufacturing as part of efforts to minimize carbon pollution in the U.S.

These credits are intended to build on President Barack Obama’s Climate Action Plan and open job opportunities across the country through the Advanced Energy Manufacturing Tax Credit program, DOE said Thursday.

Energy Secretary Ernest Moniz said the credits are intended to increase the number of clean energy projects in the U.S. and abroad with technologies made in the U.S.

DOE worked with the Treasury Department to release the program’s funding and developers can gain a tax credit of up to 30 percent in order to build energy equipment and to put that technology in service by 2017.

Businesses covered under the awards include hydropower and wind energy and smart grid technologies.

Carrier Corp. will increase production of eco-friendly condensing gas furnaces at its Indianapolis-based facility under $5.1 million in tax credits.

Corning Inc. will also grow its diesel emissions control production at its Erwin, N.Y.-based facility with $30 million in tax credits.

Natel Energy Inc. received $2 million to develop hydroelectric turbines for a manufacturing site on the former Alameda Naval Air Station, Calif.

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