48C Tax Credit Services

Round 2 will open between now and May 28th and Concept Papers will be due in June 2024!

Are you working on a project that you think would be a good fit for the 48C tax credit program? Did you apply for Round 1 and were unfortunately unsuccessful and considering reapplying?

Services

  • BSP will provide a dedicated team of DOE/Treasury tax and grant specialists to support you throughout the process.

  • BSP will perform a technical deep dive, provide strategic recommendations, track all requirements for 48C submission.

  • BSP will help you develop the most attractive project narrative, provide strategic recommendations, application templates, and a Workforce and Community Engagement Plan Questionnaire

  • BSP will conduct an in-depth interview with the Project Team and identified stakeholders to develop the Workforce and Community Engagement Plan.

For more details on the 48C program and our support for applications, please refer to the slide deck.

Round 1 Highlights
$4 billion of clean energy tax credits

Clean energy manufacturing and recycling

$2.7 billion
in tax credits

(67% of round 1 total)

Critical materials recycling, processing,
and refining

$800 million
in tax credits

(20% of round 1 total)

Emissions reduction projects

$500 million
in tax credits

(13% of round 1 total)

BSP clients were 6x more likely to be selected for awards based on overall application statistics

Our clients secured over $370 million in credits - or nearly 10% - of total available allocations

BSP supported successful applications across all three topic areas, spanning from first-of-a-kind manufacturing facilities to retrofit projects at existing industrial facilities

What is the 48C Program?

Up to a 30% investment tax credit for clean energy manufacturing facilities or other emissions reduction projects.

While most of the IRA’s tax credits are uncapped, 48C tax credit allocations are awarded on a competitive basis, so understanding the application requirements and the Department of Energy’s (DOE) program priorities is critical to enhancing the competitiveness of your project.

Eligible projects fall under one of three categories:

  • Clean Energy Manufacturing and Recycling Projects

  • Industrial Decarbonization Projects (formerly “Greenhouse Gas Emission Reduction Projects” category in Round 1)

  • Critical Material Manufacturing and Recycling Projects

BSP webinar: “48C: Not Your Average Tax Credit”

Learn more about the state of play of the tax credit, and how businesses should be thinking strategically about future investments - from site selection and community engagement through the application and credit monetization options.

Contact Us

Learn more about how BSP can support your 48C application.