Companies and economic development agencies around the country today tuned into a webinar series from the BlueGreen Alliance (BGA), U.S. Department of Energy (DOE), Evergreen Action, and the Rocky Mountain Institute (RMI) designed to help companies create competitive applications for the final round of funding from the 48C Qualifying Advanced Energy Project Credit. 

The 48C tax credit, which functions like a federal grant, is designed to fund clean energy manufacturing and reduce emissions in the industrial sector. Companies are required to submit workforce and community engagement plans. Those that include strong labor standards and proactive community engagement will make their applications more competitive.  

Initial concept papers for the final funding round of the 48C program are due June 21, 2024. 

“The BlueGreen Alliance wants to see projects that will deliver the climate, job, environmental, and health benefits our communities deserve,” said Ted Fertik, BGA Vice President of Manufacturing and Industrial Policy. “Growing domestic manufacturing is the key to a sustained clean energy future in the United States. We’re especially excited to see funding go to projects that will provide good union jobs and towards energy communities that this program rightly prioritizes.” 

“The 48C program is Biden’s climate promise in action,” said Zack Valdez, Strategic Advisor for the Office of Manufacturing and Energy Supply Chains at the DOE. “The administration wants to see this funding go to the communities that need it most and restore domestic manufacturing in the United States. We want companies to create reliable, clean energy supply chains that set our communities up for a prosperous future.” 

“48C is an exciting opportunity to achieve the climate ambitions we desperately need,” said Alisa Petersen, RMI Federal Policy Manager for the U.S. Program. “This tax credit will be competitive, and it is a now or never opportunity, with the remaining $6B being allocated this round. Economic developers can play a key role to support companies in their territory put forth competitive applications.” 

“We want to bring clean manufacturing, green energy, and good jobs to the towns who need the economic boost,” said Lachlan Carey, Manager, RMI Manager for the U.S. Program. “This money will grow our economic supply chains, decarbonize industry, and create good jobs for families. 48C is an opportunity we can’t waste.” 

“For decades, our country benefited from the labor of communities living near coal plants,” said Mattea Mrkusic, Senior Policy Lead for Energy Transition at Evergreen Action. “Now, these communities should be among the first to benefit from the clean energy future. Companies can leverage the 48C tax credit program to help drive real benefits to communities, with the added benefit of getting in on the ground floor of clean manufacturing.”