Green industry: 20 project leaders applying for the tax credit

Twenty project leaders have submitted a request for a “green tax credit”, a measure of the Green Industry law which aims to accelerate reindustrialization by promoting the development of industrial energy transition projects, the Ministry of Energy announced on Friday March 15. Economy and Finance.

The system, framed in a decree of March 11, came into force on Thursday, Bercy said in a press release.

Since the opening of the counter by the tax administration in October, "20 applications for approval have already been submitted, reflecting the response found by this system among our businesses", welcomed the ministry.

Among these requests, eight were submitted for the battery sector, five for the wind sector, six for the heat pump sector, and one for the photovoltaic panel sector, for a total amount of investments reaching 1,8 billion dinars. euros, including 44% in the battery sector, according to Bercy.

According to the Minister of Economy and Finance, Bruno Le Maire, "France is the first nation in Europe to implement the green tax credit", also called the C3IV.

It will generate “23 billion euros of investments and the creation of 40.000 direct jobs by 2030 and will reduce our emissions by 35 million tonnes of CO2”, assures Bercy.

“For the transition to be successful, it is not enough to deploy these technologies – at the risk of importing them en masse – we must produce them on European soil,” commented Roland Lescure, Minister Delegate for Industry. and Energy.

The Green Industry law of October 23, 2023 was designed in response to the massive plan for green investments adopted in 2022 in the United States, the Inflation Reduction Act (IRA). Its objective is twofold: “to develop green industries and decarbonize existing industry”, underlines Bercy.

It provides support for the financing of large industrial projects in the form of a tax credit, the C3IV, intended to support four sectors of the energy transition (batteries, wind power, solar panels and heat pumps), across the whole of the production of these sectors (production of essential equipment and components, production or valorization of critical raw materials). The processing of a request takes three months, according to the deadlines communicated by Bercy.

Eligible activities are specified in the decree of March 11.