Bill gives OEMs $120/horsepower
An advanced motor technology tax credit has been included in the recently introduced Senate tax bill S. 1639, the Expanding Industrial Energy Efficiency Incentives Act.
This tax credit provides $120 per horsepower to original equipment manufacturers and end-users for the substitution of advanced motor systems with adjustable speed capability, like permanent magnet, electronically commutated, or switched reluctance motors, as well as other technologies in redesigned equipment and appliances.
The industry organization NEMA says S. 1639 is likely to be adopted into the Senate’s comprehensive energy bill, which also contains NEMA’s “crush for credit” motor rebate program and NEMA’s motor assessment.
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