IRC §48C · investment credit
Section 48C: selling the Qualifying Advanced Energy Project Credit
An investment credit that exists only by allocation. If your project holds a §48C allocation, the credit can be sold like any other investment credit.
Verified · Instructions for Form 3468 (2025)
At a glance · §48C
- What it rewards
- Qualified investment in an advanced energy project that received a credit allocation under the IRS and Department of Energy program.
- Type
- Investment credit (ITC): a percentage of cost, claimed once
- Rate
- 30% of the qualified investment if prevailing wage and apprenticeship requirements are met; 6% otherwise.
- Credit period
- Claimed when the property is placed in service; five-year recapture period.
- Claimed on
- Form 3468, Part III, carried to Form 3800
- Transferable?
- Yes, under §6418.
- Status
- Allocation required Only projects holding an allocation can claim it; the program's total is capped at $10 billion.
- Last verified
Who earns it
§48C is not open to every project. The credit is available only for a qualifying advanced energy project that has received an allocation under the program run by the IRS with the Department of Energy, and total allocations are capped at $10 billion[1]. Projects are typically clean-energy manufacturing and industrial facilities.
The credit is 30% of the qualified investment where the project meets the prevailing wage and apprenticeship requirements, and 6% otherwise[1]. It is claimed when the property is placed in service and carries the usual five-year recapture period for investment credits.
Selling it
- Register the property for the transfer election, separately from the allocation process[2], at least 120 days before the return’s due date[3].
- Claim on Form 3468, Part III, “Qualifying Advanced Energy Project Credit Under Section 48C”[4], and report the transfer on Form 3800, Part III, column (f)[5].
- Attach the transfer election statement to an original, timely return[6].
What buyers ask for on a §48C deal: the allocation and certification letters; evidence that the project was built as certified; cost-basis support; prevailing wage and apprenticeship records; and recapture protection, because the buyer bears any recapture[7][8].
The §45X conflict
A manufacturer cannot stack the two credits on the same plant. Components produced at a facility whose property was taken into account for §48C are not eligible components for §45X[9]. Buyers of either credit will ask.
Frequently asked questions
What form is §48C claimed on?
Form 3468, Part III[4].
Is §48C transferable?
Yes, the qualifying advanced energy project credit is an eligible credit under §6418[7].
Market price
No credit-specific price is published for §48C; across the market, most transferable credits sold for 80 to 96 cents per dollar in 2026; large, insured, investment-grade deals near the top and small uninsured deals near the bottom.[Cenet Capital]
Market estimate, not an offer. Prices move with buyer demand, deal size, seller credit quality, insurance and foreign-entity exposure. Run your own figures in the Credit Value Estimator, or compare every published report on the prices page.
Deadlines for §48C
No statutory termination date currently applies beyond the general rules on the deadlines page.
Sources
- 26 U.S.C. § 48C — Qualifying advanced energy project credit
- 26 CFR § 1.6418-4 — Additional information and registration
- Register for elective payment or transfer of credits (page updated 12 Aug 2026)
- Instructions for Form 3468 (2025)
- Instructions for Form 3800 (2025)
- 26 CFR § 1.6418-2 — Rules for making transfer elections
- 26 U.S.C. § 6418 — Transfer of certain credits
- 26 CFR § 1.6418-5 — Special rules (excessive credit transfer, recapture)
- 26 U.S.C. § 45X — Advanced manufacturing production credit
- Tax credit price calculator: what is your credit worth in cash? (7 Oct 2026)