Qualifying For Renewable Energy Cash Grant Program

Law360, New York (December 8, 2010, 2:28 PM EST) -- The Section 1603(a) Treasury Grant Program was enacted under the American Recovery Reinvestment Act in February 2009 to stimulate investment in the U.S. renewable energy industry.

Generally, the project developer (or lessee in some cases) has the option of forgoing the Production Tax Credit under Internal Revenue Code Section 45 or Investment Tax Credit under Internal Revenue Code Section 48 to receive a cash grant generally equal to 30 percent of the project’s cost basis for certain qualified projects that start construction by the end of...
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