Charleston, WV — Today, Senator Joe Manchin (D-WV), Chairman of the U.S. Senate Energy and Natural Resources Committee, is encouraging West Virginia manufacturers to apply for the second round of funding from the Inflation Reduction Act’s (IRA) 48C Qualifying Advanced Energy Project Credit program. This second round will make up to $6 billion available, with at least $2.5 billion in this round reserved for projects in coal communities. Chairman Manchin previously spoke to West Virginia business and community leaders to encourage local companies to apply.
The 48C portal to submit concept papers opened on May 22, 2024, with submissions due on Friday, June 21, 2024. Access the portal here.
The 48C program was initially established by the American Recovery and Reinvestment Act of 2009, and Chairman Manchin revised and expanded the program in the Inflation Reduction Act with an additional $10 billion investment to fund projects that establish, expand, or reequip energy manufacturing and recycling facilities; establish, expand, or reequip critical materials processing and refining facilities; or to retrofit an industrial or manufacturing facility with equipment to reduce greenhouse gas emissions. Notably, Chairman Manchin added a $4 billion carve-out for projects in coal communities where a coal mine has closed since December 31, 1999, or a coal-fired electric generating unit has been retired since December 31, 2009.
“It’s simple: communities that have done the heavy lifting and bear the scars of powering our nation to greatness should be first in line as we invest in the energy technologies of the future,” Chairman Manchin said. “I am proud to have built on the success of the 48C program in the Inflation Reduction Act by incentivizing manufacturing companies on the leading edge of energy technologies to reinvest in coal communities, like those in West Virginia. These investments will strengthen our country’s energy security while also creating new good-paying jobs and generating economic opportunities in these regions where we have the manpower and know-how to usher in a new era of domestic manufacturing. I encourage all eligible West Virginia companies to apply so we can continue our state’s legacy as America’s energy powerhouse.”
To learn more about the 48C program, including how and when to apply, requirements for applicants and more, please click here.