SECTION 3. DEFINITIONS

The following definitions apply solely for purposes of the § 48C(e) program:

.01 Qualifying Advanced Energy Proj- ect . The term qualifying advanced energy project means a project that meets the fol­ lowing requirements:

(1) the project: (a) re-equips, expands or establishes an industrial or a manufacturing facility (as defined in sections 3.05 and 3.06 of this notice) for the production or recycling of specified advanced energy property (as defined in section 3.02 of this notice) (see Appendix A for more information regard­ ing these definitions);

(b) re-equips any industrial or manufac­ turing facility, with equipment designed to reduce greenhouse gas emissions by at least 20 percent through the installation of— (i) low- or zero-carbon process heat systems;

(ii) carbon capture, transport, utiliza­ tion and storage systems;

(iii) energy efficiency and reduction in waste from industrial processes; or

(iv) any other industrial technology designed to reduce greenhouse gas emis­ sions, as determined by the Secretary (see Appendix A for more information regard­ ing these definitions); or

(c) re-equips, expands or establishes an industrial facility for the processing, refin­ ing or recycling of critical materials (as defined in § 7002(a) of the Energy Act of 2020) (see Appendix A for more informa­ tion regarding these definitions);

(2) the Secretary has certified pursuant to § 48C(e)(3) that part or all of the quali­ fied investment in the qualifying advanced energy project is eligible for a § 48C cred­ it; and

(3) the project does not include any portion of a project for the production of any property that is used in the refining or blending of any transportation fuels (other than renewable fuels).

.02 Specified Advanced Energy Prop- erty . The term specified advanced energy property means any of the following:

(1) property designed for use in the production of energy from the sun, wa­ ter, wind, geothermal deposits (within the meaning of § 613(e)(2)), or other renew­ able resources;

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placed in service in the earlier of the fol­ lowing taxable years:

(A) The taxable year in which, under the taxpayer’s depreciation practice, the period for depreciation with respect to such eligible property begins; or

(B) The taxable year in which the eli­ gible property is placed in a condition or state of readiness and availability for a specifically assigned function, whether in a trade or business or in the production of income.

.05 Industrial Facility . The term indus- trial facility means a facility that produc­ es, processes, or refines materials or prod­ ucts from raw or manufactured inputs.

.06 Manufacturing Facilities . The term manufacturing facility means a facility that makes or processes raw materials into finished products (or accomplishes any in­ termediate stage in that process).

.07 Recycling Facility . The term recy- cling facility means a facility that:

(1) reclaims, recovers, or otherwise processes waste materials (including, but not limited to, property and components of property at end-of-service), the result of which is a useful product or material for use in the manufacture of a useful prod­ uct; or

(2) performs an activity or series of ac­ tivities in the processes described in sec­ tion 3.07(1) of this notice.