Overview of 48C Consulting Services
Our consulting services are tailored to support your company in leveraging the 48C Advanced Energy Project Credit, a competitive tax credit initiative designed to stimulate domestic production in the renewable energy sector. Administered by the Department of Energy (DOE), the 48C program offers a significant financial incentive, providing a 30% tax credit to eligible manufacturing projects that support the production of renewable energy, energy efficiency, and industrial decarbonization components.
For additional on 48C Round 2, see Understanding Section 48C: Advanced Energy Project Credit.
Financial Incentives and Timeline
- Funding Scope: The 48C program allocates a total of $10 billion to encourage the domestic production of clean energy technologies. This funding is distributed in rounds, with $4 billion expected to be allocated in Round 1 and up to $6 billion planned for allocation in Round 2.
- Allocation Phases: The first round of allocations of $4 billion was awarded in March 2023. 48C Round 2 was announced for $6 billion with a Concept Paper submission deadline of June 21, 2024 and final award no later than January 15, 2024. It is anticipated that all program funding will be allocated between Round 1 and Round 2.
48C Round 2 Timeline[/caption]Eligible Projects
The 48C program targets a wide range of projects within the clean energy sector, including but not limited to solar and renewable energy components, energy efficiency technologies, and solutions aimed at industrial decarbonization. Projects that significantly contribute to the advancement of clean energy manufacturing and technology development in the United States are ideal candidates for this tax credit.
Our Consulting Services
We provide a comprehensive suite of consulting services to ensure your project is optimally positioned to benefit from the 48C tax credit, including:
- Strategic Planning: Guidance on how to strategically plan your project to meet the eligibility and competitive criteria of the 48C program, enhancing its potential for success.
- Assessment: Detailed assessments to evaluate your project’s strengths and areas for improvement, ensuring it aligns with the DOE’s strategic goals and stands out among applications, and compliance with prevailing wage and apprenticeship requirements.
- Application Support: Assistance in drafting and submitting concise and compelling 48C Concept Papers (5 pages) and detailed Applications (30 pages), emphasizing your project’s alignment with the program’s objectives and its potential impact on the clean energy sector.
Why Choose Us
We provide personalized consulting services, from strategic planning and project assessment to crafting persuasive application documents. Our goal is to maximize your project’s chances of securing the 48C tax credit, supporting your contribution to the clean energy economy.
If your project is at the forefront of renewable energy innovation or aims to significantly enhance energy efficiency and industrial decarbonization, our services are designed to elevate your application and facilitate your successful participation in the 48C program.
Contact Us
Your project is unique. Let’s discuss it. Contact Us.
