The latest prong of U.S. government stimulus efforts, officially the American Reinvestment and Recovery Act of 2009, will deliver savings to selected energy manufacturers in the form of major tax cuts.
The Internal Revenue Service and Department of Energy will administer up to $2.3 billion of the Advanced Energy Manufacturing Tax Credit, based on the following criteria:
- Job creation potential
- Commercial viability
- Time to implement
- Technological innovation, and
- Emissions reduction
It will take up to 6 months after filing for the 30% investment tax credit to be assessed, and the variety of companies that can apply is impressive. According to the DOE website:
Qualifying manufactures will produce solar, wind, and geothermal energy equipment; fuel cells, microturbines, and batteries; electric cars; electric grids to support the transmission of renewable energy; energy conservation technologies; and equipment that captures and sequesters carbon dioxide or reduces greenhouse gas emissions.
Now, from an investment standpoint, you don’t want to wait 6 months in a stock that may or may not feel the benefits of the new AEMTC program. Fortunately, the companies that are already winning the race in renewable energy, low-carbon, and smart grid technology are already part of Alternative Energy Speculator’s portfolio.
To get a sneak peek at the companies most likely to get another nudge forward from Washington, check out AES today.