SECTION 4. SECTION 48C PHASE II

PROGRAM

.01 In General . The Service will consider a project under the qualifying advanced energy project program only if DOE provides a recommendation and ranking for the project (DOE recommendation). DOE will provide a recommendation and ranking only if it determines that the project has a reasonable expectation of commercial viability and merits a recommendation based on the criteria in § 48C(d)(3)(B). Accordingly, a taxpayer must submit for each project that it sponsors: (1) a concept paper for DOE consideration; (2) an application for recommendation by DOE (“application for DOE recommendation”); and (3) an application for certification under § 48C(d)(2) by the Service (“application for § 48C certification”) (collectively (2) and (3) are referred to herein as “the § 48C applications”). A taxpayer must submit a concept paper and the § 48C applications as specified in section 5 and Appendix B of this notice through the eXCHANGE website at https://eere-exchange.energy.gov . EXCHANGE is an online application portal used by the Office of Energy Efficiency & Renewable Energy, DOE, into which applicants may securely input their data and information for review by DOE and the Service. Applicants will be able to submit an application for DOE recommendation and an application for § 48C certification simultaneously using eXCHANGE.

.02 Program Specifications . (1) The Service determines the amount of the qualifying advanced energy project credit allocated to a qualifying advanced energy project at the time the Service accepts the application for certification for that project in accordance with section 4.02(8) of this notice (see section 5 of this notice for the requirements applicable to the concept paper and the § 48C applications).

(2) Section 48C Phase II credits in the amount of $150,228,397.00 are available for allocation.

(3) The amount of the qualified investment that is eligible for the credit with respect to any project is limited to $100 mil

apply to the qualifying advanced energy project credit.

.12 For further information regarding the qualifying advanced energy project program under § 48C, taxpayers may refer to http://www.irs.gov/Businesses/Ad- vanced-Energy-Credit-for-Manufactur- ers-(IRC–48C) . This website contains various information relating to the program, including answers to frequently asked questions.