The U.S. Departments of Energy and the Treasury announced the availability of $150 million in Advanced Energy Manufacturing Tax Credits for clean energy and energy efficiency manufacturing projects across the United States.
The Advanced Energy Manufacturing Tax Credit Program is helping build a robust U.S. manufacturing capacity to supply clean energy projects with American-made parts and equipment. On February 7, 2013, the IRS announced the availability of additional 48C allocations, releasing $150 million remaining tax credits that were never fully utilized by previous awardees.
A new carbon capture project in Port Arthur, Texas, gives us a glimpse into a future where CCUS technologies are widely used across industry and power production to capture and utilize CO2, without releasing it into the air.