Qualifying Advanced Energy Project Credit (48C) Program
The Qualifying Advanced Energy Project Credit (48C) was established by the American Recovery and Reinvestment Act of 2009 and renewed and expanded under the Inflation Reduction Act of 2022 (IRA). The 48C credit is a tax credit for investments in advanced energy projects, as defined in 26 USC § 48C(c)(1). The IRA provided $10 billion in funding for the expanded 48C(e) Qualifying Advanced Energy Project Credit Allocation Program (48C(e) program). To receive the full value of a 48C credit, projects must meet prevailing wage and registered apprenticeship standards. DOE 48C Portal opens for concept paper submission on May 22, 2024. Concept paper submission, due on June 21, is the first required step in the application process.
