As we relayed a couple of weeks ago, the Treasury Department has been slowly releasing details on the federal renewable energy grant program, which offers companies “payments for specified energy property in lieu of tax credits.” In other words, instead of receiving a federal corporate tax credit worth 30 percent of the costs of an eligible solar energy system, businesses may instead apply to receive a cash grant of equal value. (To qualify for the grant option, systems must be installed in 2009 or 2010.)
As of this afternoon, the Treasury is now accepting applications for funding of renewable (e.g., solar) energy projects.
- Here’s the press release from the Department of Energy.
- Here’s the relevant link to the Treasury, with information on procurement contract and agreement procedures under the American Recovery and Reinvestment Act.
- And here’s the link to the application process.
Finally, read here for more information on federal renewable energy incentives. Or, to learn more about how solar power can benefit your company, tell us about your business and energy use.
