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48C Tax Credit Portal Now Accepting Concept Papers -
Due July 31, 2023 | 12 pm ET
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48C Tax Credit Portal Open For Concept Paper Submissions. Deadline for Concept Papers is July 31 at 12:00 pm ET.
Today the U.S. Department of Energy (DOE), on behalf of the Internal Revenue Service (IRS), began accepting concept papers for the Qualifying Advanced Energy Project Credit (48C) through the 48C Exchange Portal. As part of President Biden’s Investing in America agenda, DOE is partnering with the U.S. Department of the Treasury and the IRS to implement $10 billion through the Qualifying Advanced Energy Project Credit Program (§ 48C). Applicants have until July 31st to submit their concept paper for consideration for the first round of this pivotal program.
The Qualifying Advanced Energy Project Credit (48C)—established by the 2009 Recovery Act and expanded with a $10 billion investment under the Inflation Reduction Act—aims to strengthen U.S. industrial competitiveness and clean energy supply chains. As the nation builds a net-zero economy, the 48C tax credit aims to play a critical role to create high-quality jobs, reduce industrial emissions, and increase domestic production of critical clean energy products and materials. In particular, the 48C program provides a carve-out for projects in communities with closed coal plants and mines, where the existing infrastructure and workforce are well-suited to the demands of new clean energy manufacturing.
Learn more at www.energy.gov/infrastructure/48C.
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