Stimulus Plan- Energy Grants

Welcome back, dedicated reader! Thanks for visiting.

Straight from propublica.org’s website dedicated to deciphering the stimulous:

5 million dollars earmarked for:
“Treasury Department Energy Grants in Lieu of Tax Credits. Under current law, taxpayers are allowed to claim a production tax credit for electricity produced by certain renewable energy facilities and an investment tax credit for certain renewable energy property. These tax credits help attract private capital to invest in renewable energy projects. Economic conditions have undermined the effectiveness of these tax credits. As a result, the bill would allow taxpayers to receive a grant from the Treasury Department in lieu of tax credits. This grant will operate like the current-law investment tax credit. The Treasury Department will issue a grant in an amount equal to 30% of the cost of the renewable energy facility within 60 days of the facility being placed in service or, if later, within 60 days of receiving an application for such grant.”

Everyone is interested. We’ll just have to see where this goes. Deep Patel of GoGreenSolar.com has some interesting thoughts as well. Check ‘em out. What do you think? Have you heard any rumors yet? Report back!

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