Title: Biden-Harris Administration Allocates $1.93 Billion to Boost Clean Energy Manufacturing Projects

In a major move towards strengthening America's commitment to clean energy, the Biden-Harris administration has announced the allocation of $1.93 billion to support 35 projects across 20 states. These projects, voluntarily shared with the U.S. Department of Energy (DOE), received funding through the Qualifying Advanced Energy Project Credit (48C) as part of President Biden's Investing in America agenda.

The 48C tax credit aims to accelerate clean energy manufacturing and recycling while reducing greenhouse gas emissions at industrial facilities. By investing in these projects, the administration is not only revitalizing local economies but also promoting the creation of clean energy jobs.

The projects span a diverse range of sectors in the clean energy economy, including grid components, electric vehicle (EV) components and chargers, solar components, critical minerals processing, and recycling. Importantly, seven of the projects are located in traditional energy communities, demonstrating the administration's commitment to supporting those communities that have powered America's economy for generations.

To qualify for the full 30 percent investment tax credit, projects receiving the 48C tax credit must meet prevailing wage and registered apprenticeship requirements, ensuring that good-paying jobs are created.

U.S. Secretary of Energy Jennifer M. Granholm highlighted the importance of the administration's industrial strategy, stating, "The Biden-Harris Administration is executing an industrial strategy that prioritizes rebuilding our domestic manufacturing sector, creating good-paying jobs across the country."

Treasury Secretary Janet Yellen emphasized that President Biden's economic agenda aims to drive innovation and investment in areas traditionally reliant on fossil fuel production. These investments not only enhance energy security but also create jobs in critical fields like clean energy manufacturing.

John Podesta, Senior Advisor to the President for International Climate Policy, highlighted that the 48C projects directly target energy communities and manufacturing nationwide, ensuring a transition to a clean energy future.

The Qualifying Advanced Energy Project Credit (48C) was expanded by the Inflation Reduction Act (IRA), providing an additional credit allocation of $10 billion. Of this, $4 billion has been designated for projects in energy communities.

The projects announced include 14 clean energy and clean vehicle manufacturing projects, eight grid component and modernization projects, five critical minerals and materials projects, and eight emissions reduction and clean fuel production projects.

The DOE will release the names of all organizations allocated a credit and the amount of that allocation after projects are certified, a process that can take up to two years. As of now, 35 projects have voluntarily disclosed their information and are part of the announcement.

These investments in clean energy manufacturing will not only boost economic competitiveness but also drive the production of essential materials needed for the clean energy transition, such as electric vehicle components, renewable steel, and critical minerals.

Furthermore, these projects will create pathways for training and employment in the clean energy and manufacturing sectors, ensuring that communities that have historically relied on fossil fuel industries can benefit from the economic opportunities presented by the clean energy economy.

The U.S. Department of Treasury and Internal Revenue Service are set to issue guidance for the second round of the 48C program, and companies interested in being publicly listed as recipients of the program can submit their opt-in forms to the Department of Energy.

With this significant investment, the Biden-Harris administration is taking crucial steps towards achieving its clean energy goals, supporting local economies, and creating job opportunities in the renewable energy sector.