Opportunity Title:
Qualifying Advanced Energy Project Credit (48C)
Funder/Agency:
DOE & Treasury
Description:
The Qualifying Advanced Energy Project Credit (§ 48C) program aims to strengthen U.S. industrial competitiveness and clean energy supply chains. As the nation builds a net-zero economy, the § 48C tax credit program 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. The Inflation Reduction Act provided $10 billion in new funding under § 48C(e), with at least $4 billion reserved for projects in certain energy communities with closed coal mines or retired coal-fired power plants, to allocate credits to projects in three categories:
(1) Clean energy manufacturing and recycling,
(2) greenhouse gas emission reduction, and
(3) critical materials refining, processing, and recycling.
The DOE portal opened for concept paper submissions on May 22.
Webinar
DOE and Treasury hosted a virtual informational webinar for potential applicants on Thursday, May 16, 2024 at 12:00 PM Eastern Time. The webinar provided a summary of the Round 2 guidance, including project eligibility and how to prepare concept papers and applications using the new simplified process.
The webinar also provided information about additional census tracts and the new application portal.
Eligibility:
Clean Energy Manufacturing and Recycling Projects
Industrial Decarbonization Projects
Critical Material Projects
For more information on eligibility, see Appendix A.
Deadline:
Concept Paper Submissions Due June 21, 2024
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