Laminate pulled from a photo voltaic panel earlier than recycling at SolarCycle’s Odessa, Texas facility.
The U.S. Division of Vitality (DOE) on April 19 launched particulars for 35 tasks throughout 20 states that voluntarily shared with DOE they obtained a complete of $1.93 billion in allocations of the Qualifying Superior Vitality Undertaking Credit score (48C). 48C is an allotted tax credit score funded by President Biden’s Investing in America agenda by the Inflation Discount Act, aimed toward accelerating clear vitality manufacturing and recycling and decreasing greenhouse fuel emissions at industrial services.
The tasks introduced at present are addressing essential wants throughout the clear vitality economic system, together with grid elements (e.g., transformers), electrical automobile elements and chargers, photo voltaic elements, clear metal, essential supplies processing and recycling, and different clear vitality merchandise. Seven of the tasks introduced at present are situated in conventional vitality communities, which embrace communities with closed coal mines or coal vegetation — advancing the President’s dedication to spend money on the communities which have saved America’s economic system powered for generations. In an effort to obtain the total 30% funding tax credit score, tasks receiving a 48C tax credit score should meet prevailing wage and registered apprenticeship necessities.
“The Biden-Harris Administration is executing an industrial technique that prioritizes rebuilding our home manufacturing sector, creating good-paying jobs throughout the nation,” stated U.S. Secretary of Vitality Jennifer M. Granholm. “Via the historic Superior Vitality Undertaking Credit score, we’re leveraging the infrastructure, experience, and grit of America’s vitality communities—the place the employees that powered our vitality previous, will energy our vitality future.”
The IRA expanded the Qualifying Superior Vitality Undertaking Credit score (48C) to offer a further credit score allocation of $10 billion, with $4 billion put aside for tasks in designated vitality communities.
On March 29, 2024, the IRS allotted roughly $4 billion of 48C credit for over 100 tasks throughout 35 states, with roughly $1.5 billion allotted to tasks in designated vitality communities. As required by statute, the 48C(e) program can launch the names of all organizations allotted a credit score and the quantity of that allocation solely after tasks are licensed, a course of that may take as much as two years. Upfront of that certification, as of April 18, 35 tasks voluntarily self-disclosed info to DOE to share publicly as a part of at present’s announcement.
Lots of the recipients fall beneath electrical automobile manufacturing, however just a few are straight associated to photo voltaic PV:
- Highland Supplies — Surgoinsville, Tennessee. This undertaking, which is situated in an Vitality Group, will initially produce 16,000 Metric Tons per yr (MT/yr) of photo voltaic grade polysilicon at lower than customary value and with a 90% discount in carbon emissions. At full capability, it should produce 20,000 MT/yr — the equal of 11 GW of photo voltaic cells. Highland is working carefully with Northeast State Group School to develop and implement workforce improvement together with DOL licensed apprenticeship packages, together with different group assist packages designed to assist our workforce and the group at giant. [Credit Amount: $255.6 Million]
- SolarCycle — Cedartown, Georgia. SolarCycle is investing in a state-of-the-art $344 million glass plant that may create a few of the cleanest photo voltaic glass on this planet by utilizing recycled glass from retired photo voltaic techniques as an enter. In comparison with imported photo voltaic glass, this product will scale back commerce danger, improve innovation and create advantages for the home economic system. With assist from the Division of Vitality, Inner Income Service, and the State of Georgia, the superior course of will produce 1,000 metric tons per day (MTD) of rolled, patterned photo voltaic glass. [Credit Amount: $64.2 Million]
The U.S. Division of Treasury and Inner Income Service anticipate issuing steerage for the second spherical of the 48C program within the coming weeks, with a submission window for required idea papers anticipated to open by this summer time.
Learn all of Photo voltaic Energy World’s home manufacturing protection right here.
Information merchandise from the U.S. Dept. of Vitality
