Energy Resources

U.S. giving tax breaks for clean energy

Published: Feb. 8, 2013 at 8:43 AM

WASHINGTON, Feb. 8 (UPI) -- The U.S. government announced plans to offer $150 million in tax credits to encourage manufacturing in the clean energy sector.

The U.S. Energy and Treasury departments announced the availability of the Advanced Energy Manufacturing Tax Credits. Tax credits were offered in U.S. economic stimulus measures enacted to pull the country out of recession. The $150 million is what's left over from the original $2.3 billion in tax credits.

U.S. Energy Secretary Steven Chu said the manufacturing tax credit since 2009 has helped the U.S. economy become a global competitor in clean energy.

"These new investments will continue that momentum, supporting the president's commitment to American-made energy, increasing energy security and creating jobs," he said in a statement.

Chu announced last week he was leaving office. U.S. President Barack Obama has yet to nominate his replacement.

Topics: Steven Chu, Barack Obama

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

Order reprints

Most Popular Collections

'Star Trek Into Darkness' screening	NBC upfronts	Met Ball 2013
'Great Gatsby' premieres in New York	Spire raised on top of One WTC	2013: Celebrity break ups and divorces

Additional Energy Resources Stories
Energy Resources More than 20 arrests in Keystone XL protest CHICAGO, June 18 (UPI) -- More than 20 activists were arrested in Chicago Monday while demonstrating against the Keystone XL oil pipeline, an advocacy group said. North Dakota takes advantage of natural gas Shippers mull LNG as a fuel source Slow slide for U.S. gasoline prices Gazprom wants control of Armenian markets	Security Industry MBDA unveils new system PARIS, June 18 (UPI) -- A new system for indirect precision attack for land and naval forces has been unveiled at the Paris Air Show by European missile systems company MBDA. Typhoons to carry MBDA's Meteor missiles Sagem integrates COMINT system on drone France bundles Thales support contracts P&W delivers 100th engine for F-35s
Real Estate Foreclosure processing time at new high Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous... Altos: No sign of single family rental weakness -- yet CB Previews International draws the line on pocket listings Americans exit the housing crisis with new appreciation for renting Real Estate: Nothing to fear from zombie houses	Analysis: Economic Outlook This resembles austerity Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda. Fed shows it's human The name of the game The key to Keystone Mergers are us