Transport
Obama unveils $2.3 billion tax credit for clean energy
US President Barack Obama has unveiled a $2.3 billion tax credit for clean energy that he says will boost jobs and tackle climate change.
The funds from the American Recovery and Reinvestment Act (ARRA) will be matched with $5.4 billion in private investment.
The clean energy manufacturing tax credits will benefit 183 manufacturing facilities of clean energy products in 43 states across the US.
The provision of a 30% tax credit for the recipients is aimed at supporting the development of renewables and energy efficiency technologies.
The qualifying facilities include those producing solar, wind and other renewable energy equipment, microturbines, electric grid and storage technologies, energy conservation technologies, plug-in electric vehicles and their components, fuels cells, energy storage systems for electric and hybrid vehicles, biofuel refining and blending technologies and carbon capture and storage equipment.
Beneficiaries include smart meter company Itron, W.L. Gore & Associates, which produces an advanced membrane for high efficiency fuel cells, and TPI Composites, which is investing in a new facility to manufacture wind turbine blades.
The Department of Energy says the investment will generate more than 17,000 with the additional private sector funding supporting a further 41,000 jobs.
“Building a robust clean energy sector is how we will create the jobs of the future,” said President Obama.
“The Recovery Act awards… will help close the clean energy gap that has grown between America and other nations while creating good jobs, reducing our carbon emissions and increasing our energy security,” he added.
For further information:
www.whitehouse.gov/
www.whitehouse.gov/the-press-office/president-obama-awards-23-billion-new-clean-tech-manufacturing-jobs
www.recovery.gov
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US energy manufacturers receive $2 billion tax credit bonus (17-Aug 2009)
US announces $3 billion in cash incentives for renewables (13-Jul 2009)