The Bakersfield Californian Reports LS Cable & System Receiving $99 Million Investment Tax Credit through Section 48C of the Inflation Reduction Act

By Better Today On Apr 19, 2024

TL/DR –

LS Cable & System has received a $99 million investment tax credit under Section 48C of the Inflation Reduction Act. The credit will go towards a $363 million project for the construction of a high-voltage direct current (HVDC) cable production facility in the U.S. The facility aims to manufacture HVDC cables for renewable energy sources.

LS Cable & System Secures $99 Million Investment Tax Credit, Courtesy of Section 48C of the Inflation Reduction Act

LS Cable & System is set to benefit from a massive $99 million investment tax credit. This boon comes courtesy of Section 48C of the Inflation Reduction Act, a game-changing provision offering substantial financial incentives for companies to invest in advanced energy projects.

The South Korean company, a leading player in the cable and system industry, is poised to leverage this windfall effectively. This development is also expected to have positive ripple effects on the wider industry.

For more detailed information, read the original article on this massive tax credit for LS Cable & System.