It’s getting late here on a Friday afternoon, so we’ll keep this brief. The big, nay HUGE, news for solar power today is that an important renewable energy incentive program — the so-called Section 1603 Treasury Grant Program — was extended as part of the tax compromise bill singed this afternoon by President Barack Obama.

The extension of the program — which provides commercial entities a cash grant worth 30 percent of project costs — will help keep impressive momentum going into the new year. Industry experts credit the grant program for helping create 100,000 and $18 billion in investment since it was enacted in 2009, according to the L.A. Times.

Here’s the important questions, however: What does this all mean for you?

First, if your company has ever considered installing a commercial solar energy system, do not miss this opportunity. The federal government has a 30-percent tax credit on the books through 2016. But all you have to do is ask your accountant which he/she prefers — cash or a tax credit — and you’ll see why the grant option has stimulated so much activity. The grant program makes the project development process easier, from financing all the way through to design and engineering, procurement and construction.

Second, it seems solar power has some catching up to do. As illustrated by the nearby chart, which comes to us from the Treasury Department via Greentech Media, solar is currently playing second fiddle to wind energy:

So, all you businesses and solar energy project developers out there, we’ve got some work to do, laying conduit and creating jobs. Here’s to a prosperous, solar-powered new year!