Treasury announces energy tax credits

The U.S. Department of the Treasury and the Department of Energy today announced more than $2 billion in tax credits for energy manufacturers available through the stimulus.

The 30 percent tax credit will be provided to qualifying manufacturers of wind, solar, geothermal energy equipment, fuel cells, microturbines, batteries, electric cars and electric grids that support renewable energy transmission, plus energy conservation technologies and carbon sequestration equipment.
“This program will help encourage innovation in design of clean energy technologies,” said Treasury Secretary Tim Geithner.

The Bay Area is home to many cleantech companies including those that manufacture renewable energy equipment, batteries and electric cars.