Claiming 48C Green Energy Tax Credit

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President Biden signed into law the Inflation Reduction Act (IRA) of 2022 which signaled a push to incentivize and reward companies that are pursuing climate and green energy-related projects. IRA funds total over $369 billion, with $10 billion specifically designated to Section 48C. The goal of this program is to expand U.S. manufacturing capacity and jobs for clean technologies, reduce greenhouse gas emissions and to secure domestic supply chains for critical materials.

48C Tax Deduction offers substantial benefits

  • The base credit is 6% of the qualified investment, with the potential to earn up to 30% providing that the Prevailing Wage and Apprenticeship requirements are met.
  • The credit is eligible to be transferred fully or partially to a 3rd party taxpayer.
  • The credit has a modified three-year carryback and up to a 23-year carryforward period.

And more!

Who qualifies and what improvements are eligible?

Projects that include a qualified investment into re-equipping, expanding, or establishing manufacturing capabilities of green energy components and it’s supporting equipment.

Ongoing projects or projects placed into service after January 2023 may qualify.

Eligible industries may include:

  • Manufacturing and/or Industrial companies that have net zero carbon goals and are actively investing in green energy solutions for their facilities
  • Automotive or Original Equipment Manufacturers of electric or hybrid vehicles
  • Refineries or recycling facilities
  • Energy Providers & Energy Solutions
  • Energy Generation Manufacturers

These are not complete lists of eligible projects or industries. Please contact us for a free consultation with one of our experts to answer any questions and identify all opportunities.

Claiming Periods

The Department of Energy’s (DOE) Concept Paper submittal timeframe is expected to open in early summer of 2024 for a 9 week period.

Learn more about 48C

Download the 48C Tax Credit Guide to learn more about how you can claim 48C and how we can help you.

Maximize your benefit by hiring an expert

We partner with your business and advisors to provide access to the maximum government incentives. Our team of experts take the time to understand your business in order to align your company to all available federal and state credits and/or grants. Our industry-based expertise and successful track record offer peace of mind knowing you have the highest chance of being approved and receiving the maximum benefit on investment possible. 

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