Hot on the heels of President Barack Obama’s $2.3 billion Recovery Act Advanced Energy Manufacturing Tax Credits for spurring renewable energy development and clean-energy jobs arrives news, courtesy of the Arizona Republic, detailing how Arizona will be among the many states to benefit from the initiative.
In recent months, a state, a municipality and a public utility district have enacted policies that guarantee a premium price for electricity that's generated from renewable sources. Lawmakers from a number of states -- including South Dakota, California, Indiana, Minnesota and Michigan -- are also considering creating so-called feed-in tariffs of their own. Such tariffs entice homeowners and businesses to install solar panels, or wind turbines, by making it financially attractive to do so.
Under the American Recovery and Reinvestment Act, the federal government offers businesses a cash grant worth 30 percent of the cost of qualifying renewable energy systems, provided they're installed in 2009 and 2010. The grant option is designed to provide direct payments in lieu of the 30-percent federal renewable energy tax credit. Until recently, details on the grant application and approval process were murky.