Feds Add $150M Tax Credit for Manufacturers of ‘Advanced Energy’ Products
A new tax credit will allow manufacturers to claim up to a 30 percent tax break for development of “advanced energy” products.
In the announcement of the update, which was made on February 7, among the specific product segments called out are lighting, lighting control, thermostats and energy management systems.
To get the tax break, manufacturers must submit concept papers to the U.S. Department of Energy by April 9 with full applications due by July 23, 2013.
There is a total of $2.3 billion available for the tax break, with $150 million in this “Phase II” announcement.