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It provides a 30% tax credit for investments in facilities that manufacture clean energy technologies including wind, solar, batteries, advanced transportation and advanced energy transmission.
The initial tax credit program was capped at $2.3 billion and is already oversubscribed. If extended, this program will spur manufacturing investment and has the potential to generate thousands of jobs.
Manufacturers recognize the need to promote energy efficiency across the U.S. economy and have taken the lead in making energy efficiency a priority. We hope Congress will follow the Administration’s lead and act quickly to expand the program.”