Date: 06/30/2023
Type: Implementation of IRA
On June 30th, 2023, the Department of Energy opened its exCHANGE portal for clean energy companies to apply for funding through the $10 billion Advanced Energy Project Credit program administered by Treasury. The IRA expanded the program under tax code Section 48C(e), providing up to a 30% tax credit to taxpayers building clean energy projects. Proposals must first receive an endorsement from the Department of Energy before being sent to IRS. The concept paper deadline is July 31, 2023.
The Qualifying Advanced Energy Project Credit Allocation Program was first launched in 2009 with the American Recovery and Reinvestment Act, and received additional funding under section 13501 of the 2022 Inflation Reduction Act.