Purified to a minimum of 99%:<\/i> arsenic, bismuth, erbium, gallium, hafnium, holmium, iridium, lanthanum, lutetium, magnesium, palladium, platinum, praseodymium, rhodium, rubidium, ruthenium, samarium, scandium, tantalum, terbium, thulium, titanium, ytterbium, zinc, zirconium<\/span><\/div><\/div><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div>\nThe full listed credit would be given to anything sold through Dec. 31, 2029. Beginning in 2030, the credits begin their phase-out:<\/span><\/p>\n\n- 2030: 75% of credit amount<\/span><\/li>\n
- 2031: 50%<\/span><\/li>\n
- 2032: 25%<\/span><\/li>\n
- 2033: 0%<\/span><\/li>\n<\/ul>\n
\u201cThe Biden-Harris Administration\u2019s economic agenda is driving a manufacturing boom across the country that I\u2019ve seen first-hand in North Carolina, Kentucky and Georgia. These investments are creating good-paying jobs, strengthening U.S. supply chains and lowering costs for American consumers and businesses,\u201d said U.S. Secretary of the Treasury Janet L. Yellen. \u201cThe final rules announced today will help companies continue to invest and innovate in the United States as we buildout our clean energy economy.\u201d<\/p>\n
The Advanced Manufacturing Production Credit helps to level the playing field for U.S. companies to onshore production of critical clean energy technologies like solar and wind components, batteries and energy storage, and critical minerals. The final rules announced today will expand America\u2019s clean energy manufacturing base, create good-paying jobs, strengthen the nation\u2019s energy security, and build the reliable and responsible supply chains needed to meet U.S. climate goals. In particular, the final rules will accelerate the buildout of domestic critical mineral supply chains by allowing taxpayers to include materials costs and extraction costs in production costs for applicable critical minerals and electrode active materials, provided certain conditions are met. This change, based on feedback from stakeholders, will enable further investment in responsible U.S. critical minerals extraction and processing and strengthen U.S. energy security and clean energy supply chains.<\/p>\n
\u201cSection 45X is one of the most influential policies we have to onshore the solar supply chain, ” said Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association (SEIA), in a press statement. “Clarity is key, and these rules provide the certainty domestic solar and storage manufacturers need to move forward with their investments. Over the last year SEIA has advocated for solutions that make this credit more accessible, including realistic solutions to expand eligibility for inverter manufacturers and help storage manufacturers recoup upfront costs for accessing critical minerals.<\/p>\n
\u201cAs a result of these rules, investments in American workers and factories are here to stay,” she continued. “Whether it\u2019s solar panel manufacturing in Georgia, steel rolling in Pennsylvania or mineral production in Montana, the solar and storage industry is committed to making homegrown solar products. We commend Treasury and the Biden administration for their continued efforts to support domestic manufacturing and invest in our energy independence.\u201d<\/p>\n
Today\u2019s final rules will give taxpayers additional clarity and certainty to drive even more investment in clean energy and critical minerals. Because the Advanced Manufacturing Production Credit is eligible for the Inflation Reduction Act\u2019s novel monetization provisions to help ensure businesses receive the full value of the incentives \u2014 elective pay and transferability \u2014 the tax credit is particularly powerful for start-up companies that have low tax liability.<\/p>\n