14 DAY TRIAL // While the US Environmental Protection Agency is busy investing in improving air quality in and around marine and inland port communities, the country's Department of Energy is trying to boost the development of the country's clean energy industry.
Yesterday, the US Department of Energy announced that twelve clean energy businesses across the country were to receive a total of $150 million (€108.9 million) in tax credits.
In a press release on the issue, the Department details that these awards will help the businesses upgrade the manufacturing equipment and the infrastructure that they rely on in order to roll out products that support green energy, smart grid technologies and fuel efficient cars.
Apart from promoting the use of renewables and sustainability, these tax credits are expected to benefit the country's economy by creating thousands of job opportunities.
Commenting on how this initiative will help the US, Energy Secretary Ernest Moniz stated as follows:
“Cost-effective, efficient manufacturing plays a critical role in continuing U.S. leadership in clean energy innovation, and the tax credits announced today will help reduce carbon pollution from our vehicles and buildings; create new jobs and supply more clean energy projects in the United States and abroad with equipment made in America.”
According to the detailed list of the twelve clean energy businesses that are to benefit from this initiative, Ford and General Motors are two of the companies that have been awarded tax credits.
The automotive manufacturers have received $30 million (€21.77 million) and $20 million (€14.51 million) in tax credits, respectively.
The companies are both expected to use these awards to boost the development of eco-friendly vehicles. The goal is to curb greenhouse gas emissions and reduce the use of dirty fuels.
The awards that the US Energy Department announced this past December 12 were made possible by a federal tax program dubbed the Advanced Energy Manufacturing Tax Credit, or the 48C Program.
“The President’s Climate Action Plan laid out steady, responsible action to cut carbon pollution in the United States, including deploying clean energy, building a 21st century transportation sector and cutting energy waste in homes, businesses and factories.”
“The 48C Program supports this overall strategy to slow the effects of climate change, while continuing American leadership in clean energy innovation,” the Department explains on its website.