IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
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Inception date: 01 Oct 2010 | Removal date: 30 Sep 2012
Still in force

Tax or social insurance relief

On February 17, 2009 Congress enacted into law the American Recovery and Reinvestment Act of 2009 (Public Law 111-5). One provision of this law created for fiscal years 2011 and 2012 an Advanced Energy Property Credit that was intended to stimulate economic growth, create jobs, and reduce greenhouse gas emissions by supporting investments in green energy manufacturing. The program allowed for pp to $2.3 billion in credits, and ultimately resulted in subsidies (revenue losses) of $430 million in FY2011 and $580 million in FY2012.
 
Under this program a 30% credit was available for investment in qualified property used in a qualified advanced energy manufacturing project. A qualified advanced energy project is a project that re-equips, expands, or establishes a manufacturing facility for the production: (1) property designed to be used to produce energy from renewable resources; (2) fuel cells, microturbines, or an energy storage system for use with electric or hybrid-electric vehicles; (3) electric grids to support the transmission of intermittent sources of renewable energy; (4) property designed to capture and sequester carbon dioxide; (5) property designed to refine or blend renewable fuels or to produce energy conservation technologies; (6) qualified plug-in electric drive motor vehicles, qualified plug-in electric vehicles, or components which are designed specifically for use with such vehicles; and (7) other advanced energy property designed to reduce greenhouse gas emissions. 
 
The law did not explicitly require that the projects be based in the United States. It did however provide that one of the factors to be taken into consideration in awarding credits to projects would be to choose those which "will provide the greatest domestic job creation (both direct and indirect) during the credit period."
 
Data are not available on the specific products, sectors, or firms that received aid under this program.

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