Tax Credits for Wixom Alternative Energy Park

by Bruce Goodman 

The prospective buyers of the former Ford Wixom plant are awaiting loan guarantees from the U.S. Department of Energy (DOE) in hopes of closing on the purchase of the site by the end of the year.  Meanwhile, a new law, PA 114 of 2010, provides tax credits for a single facility that will produce large scale batteries and manufacture integrated power management, smart control, and storage systems from 500 kW to 100 MW in size.  The credits would be equal to 25 percent of the capital investment for any tax year, but limited to $25 million per year, for up to four years.