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Heavy machinery fuel cells to get US tax credit too
Fuel Cells, Aug 02 2011 (The Hydrogen Journal)
- New proposed US legislation, from US Senator Charles Schumer, will provide fuel cells for heavy machinery and off highway vehicles with the same tax credit as other industrial vehicles powered by fuel cells.
The proposed senate legislation matches legislation for the House of Representatives from Congressmen Paul Tonko and Chris Gibson.
This means that fuel cells for fork lift trucks will be covered by the tax credit.
Fuel cell manufacturer Plug Power estimates that the credit will mean a "tax break of between $8,000 and $40,000 for buyers, depending on the nameplate kilowatt capacity or weight of the fuel cell material handling vehicle."
The legislation is intended to amend section 30B of the Energy Policy Act of 2005, also known as the Alternative Motor Vehicle Credit (AMVC).