Cleantech Update

Feds announce terms of cash program for renewable projects Posted on July 10, 2009 by rohdec12 Feds at last announce how to obtain stimulus package cash (in lieu of tax credits) for renewable projects. Treasury, Energy Announce More than $3 Billion in Recovery Act Funds for Renewable Energy Projects Cash Assistance Will Increase Economic Development, Promote Renewable Energy Use Program Guidance Now Available to Businesses to Facilitate Swift Implementation WASHINGTON – As part of an innovative partnership aimed at increasing economic development in urban and rural areas while setting our nation on the path to energy independence, the U.S. Department of the Treasury and the U.S. Department of Energy today announced an estimated $3 billion for the development of renewable energy projects around the country and made available the guidance businesses will need to submit a successful application. Funded through the American Recovery and Reinvestment Act (Recovery Act), the program will pr...

July 9, 2009 The American Recovery and Reinvestment Act of 2009 (ARRA), which was enacted in February, permits an applicant to receive a grant from Treasury in lieu of claiming investment tax credits (ITCs) or production tax credits (PTCs ). Today the U.S. Treasury Department issued much-anticipated guidance concerning applications to receive cash grants in lieu of claiming income tax credits for certain renewable energy projects. Although the guidance includes a sample application form, the U.S. Treasury has stated that it will not accept applications until August 1. Click here to read the full analysis on this guidance including grant details, eligibility and the application process at www.stoel.com . The Rest @ Stoel Rives