08 January 2010 20:36 [Source: ICIS news]
WASHINGTON (ICIS news)--DuPont and Dow Chemical on Friday were among 100 US firms - including other chemicals and polymers producers - awarded a combined $2.3bn (€1.6bn) in tax credits by the Department of Energy (DOE) to advance clean energy projects.
President Barack Obama announced the tax credit awards at the White House, saying the tax breaks “will drive significant growth in renewable energy and clean technology manufacturing sectors”.
The awards will help launch or expand manufacturing at 183 production sites spread across 43 states, the White House said.
The $2.3bn in tax credits were allocated on a competitive basis from among more than 500 applications submitted by companies, senior administration officials said in a teleconference with reporters.
The companies receiving the tax credits are either US firms or US subsidiaries of foreign firms with production facilities in this country, the officials said.
The tax credits, which range from as little as $75,000 up to $140m, can be used by the recipient companies to offset taxes that otherwise might be due for this year.
DuPont was awarded more than $50m in tax credits to support the expansion of production of high-performance polyvinyl fluoride films used to protect solar photovoltaic modules.
Dow Chemical received two credits totalling more than $20m to produce special films to laminate solar cells and to produce photovoltaic cells that can be built into residential and commercial roofing and siding.
Wacker Polysilicon North America was awarded more than $128m in tax credits to expand production of pure polysilicon for the solar cell manufacturing sector. The new production line in ?xml:namespace>
Dow Corning was granted more than $27m in tax credits to support construction of a new monosilane production facility, with 60% of the plant’s output dedicated to the solar cell market.
Monosilane is a key component in production of amorphous thin-film solar panels.
Hemlock Semiconductor was awarded nearly $142m in tax credits to expand production of polycrystalline-silicon used in the production of solar panels. When operational, the new facility will have output of 19,200 tonnes/year, according to the department.
Other tax credit awards were made to support or advance production of energy efficiency components for buildings, wind towers, batteries and electric grid equipment.
($1 = €0.70)
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