Treasury Issues Guidance on Applications for Renewable Energy Grants
7/10/2009

Summary:

Stoel Rives attorney Greg Jenner commented in GreenBiz.com on the issuance of new guidance by the U.S. Treasury Department concerning applications to receive cash grants in lieu of income tax credits for certain renewable energy projects. 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).

Jenner, a former Deputy Assistant Secretary of the Treasury for Tax Policy from 2002 through 2004, said the guidance removes much of the uncertainty surrounding the program. "Treasury has come up with a set of rules that will make it as easy as possible for people to get this grant. Now that lenders know it's going to be a piece of cake, they now know what they can lend against."

Read the GreenBiz article

"Path to $3B in Stimulus Funds Revealed to Renewable Energy Developers" was published by GreenBiz.com, July 10, 2009.