Fontana, California – February 2, 2010 – The Department of the Treasury has accepted SunEarth’s application for a competitive §48C Advanced Energy Manufacturing Tax Credit.
This manufacturing credit is part of the American Reinvestment and Recovery Act (ARRA) of 2009, and is designed to encourage taxpayers to re-equip, expand or establish manufacturing facilities for the production of renewable energy equipment and other qualifying advanced energy property.
According to Richard Reed, President of SunEarth, “We realized in 2007 that our capital equipment was aging and that it was time to invest in new state of the art production equipment. Unfortunately, the financial meltdown and subsequent recession put our plans on hold”.
“ARRA provided the incentive we needed to get our modernization and expansion plans back on track. I have been very impressed with the government’s speed and focus in choosing the tax credit recipients”, said Reed. He went on to say that SunEarth’s investment will create new manufacturing jobs in Southern California as well as mitigate an estimated eighty-eight million of tons of CO2 and other greenhouses gases over the useful operating life of the equipment.
Founded in 1978, SunEarth is a leading manufacturer of solar thermal collectors, ancillary system components, and mounting hardware. The company remains wholly American owned and operated.
Posted: February 2nd, 2010
