The U.S. Department of Treasury, the Internal Revenue Service and the U.S. Department of Energy have received more than 800 project proposals seeking nearly $40 billion in tax credits for Round 2 of the Qualifying Advanced Energy Project Tax Credit (48C) Program.
The IRS and the DoE notified applicants on the 48C Portal that applications are now open for applicants to apply for the next stage of evaluation to determine which projects will receive a tax credit.
Regardless of whether they received an encourage or discourage letter, applicants who submitted a concept paper (project proposal) may now submit a full application on the 48C Portal.
Applications are due by Friday, Oct. 18. Applicants are also encouraged to use the application templates on the 48C Portal.
Up to $6 billion in tax credit allocations are available for the second round for the 48C(e) program, including approximately $2.5 billion for projects located in 48C(e) designated energy communities.
The agencies will host a webinar for applicants on Monday, Sept. 16. The webinar registration link will be made on the
The 48C Program, funded by the Inflation Reduction Act, accelerates domestic clean energy manufacturing and reduces greenhouse gas emissions at industrial facilities.
The IRS encouraged more than 450 projects across 46 states and the District of Columbia, with more than $22.5 billion in tax credits requested.
The projects include those of large, midsized and small businesses and nonprofits, all of which must meet prevailing
