The U.S. Departments of Treasury and Energy announced the first round of project recipients for the Advanced Energy Project Tax Credit (48C). The Inflation Reduction Act provided 48C with $10 billion—including $4 billion for communities that have recently lost jobs in the coal sector.

The tax credit was designed to strengthen the country’s clean technology supply chains and support emission reduction projects in energy intensive sectors. Applicants can receive an investment tax credit worth up to 30% of a project’s costs if they offer a prevailing wage and employ from apprenticeship workforce pools.

More information about the 48C tax credit can be found in this blog post.

Following the announcement, the BlueGreen Alliance issued a statement from Executive Director Jason Walsh:

“The 48C tax credit enables and incentivizes manufacturers in the United States to invest in clean technology to drive down emissions in critical sectors like electric vehicles, wind, solar, power grids, batteries, aluminum, and more. Crucially, billions of dollars will go toward manufacturing investments that will help revitalize our nation’s coal communities. Not only do these investments get us closer to a cleaner environment but they can help ensure clean energy jobs are good jobs. We look forward to seeing the final list of certified projects and encourage recipients to publicly share information about their projects.”