Energy Department, Treasury offer $150 million in tax credits for clean- energy manufacturers

obamaThe Built by Michigan coalition has been a strong advocate for strategic public investments in the electric vehicle and advanced battery industries, and we’re clearly seeing the benefits.

Over the past four years, the U.S. has more than doubled the amount of clean, renewable energy we generate from wind, solar, and geothermal sources,.

At the same time, the American manufacturing sector has begun to rebound, with 500,000 manufacturing jobs added since the beginning of 2010.

That's why we believe the $150 million in tax credits announced by the federal government earlier this month will strengthen our position as a global leader as the clean energy race continues.

The U.S. Departments of Energy and the Treasury announced the tax credits for clean energy and energy efficiency manufacturing projects across the United States on Feb. 7.

"Since 2009, the Advanced Energy Manufacturing Tax Credit program has supported innovative American manufacturers that boost our nation's competitiveness in the global race for clean energy," said Energy Secretary Steven Chu said in a statement. "These new investments will continue that momentum, supporting the President's commitment to American-made energy, increasing energy security, and creating jobs."

The tax credit, funded by the stimulus plan enacted soon after President Obama’s election, to support investment in domestic clean energy and energy efficiency manufacturing facilities.  The $150 million in tax credits in the current program was made available because it wasn’t used by the previous awardees.