U.S. Department of the Treasury and IRS Announce $6 Billion in Tax Credit Allocations for the Second Round of the § 48C Qualifying Advanced Energy Project Tax Credit

Over 140 projects selected in Round 2; approximately 250 selected in total across both roundsWASHINGTON – Today, the Internal Revenue Service (IRS) announced $6 billion in tax credits for the second round of the Inflation Reduction Act’s (IRA) § 48C Qualifying Advanced Energy Project Tax Credit (§ 48C Program).The § 48C Program, managed by the IRS with assistance from Department of Energy’s (DOE) Office of Manufacturing & Energy Supply Chains (MESC), was originally established by the American Recovery and Reinvestment Act of 2009, and subsequently expanded with a $10 billion investment under the IRA. Of this $10 billion, 40% is reserved for projects in designated § 48C energy communities—communities with closed coal mines or coal plants.