03/29/2024

Clean Energy Tax Incentive Will Hit Its Cap

A program to lure clean energy and other green businesses to California will run out of money for the first time. 

A state program started in 2010 awards up to $100 million per year in tax breaks to clean energy, electric vehicle, and energy efficient manufacturing companies, to encourage them to locate in the state.

In October, Governor Jerry Brown signed a bill to open the program to recycling and composting companies, as well.

But the California Alternative Energy and Advanced Transportation Financing Authority has already received enough applications for the program to hit its limit both this year and in 2016.

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