Over 1 Billion in Renewable Energy Treasury Grants Paid Out So Far!

Solar Energy Consultant Bob Gentile and Large Solar Array that will Benefit from Tax Grants

Commercial Solar and Wind investments have been growing rapidly through out 2009. The extension of the Federal Investment Tax credit has given investors a long term outlook on the future of available incentive as well as government support for these projects.

More importantly what is creating the rush today is the availability for those who invest in approved renewable energy projects to forego the tax credit and receive the incentive as a cash rebate. The availability of cash grants in lieu of tax credits are only for a limited time. Created under the American Recovery and Reinvestment Act’s 1063 program, the U.S. Treasury has paid out over $1 Billion dollars in renewable energy rewards. A list of the recipients of the first $500M can be found here.

We have multiple solar energy projects in line for the next round of funding and are hoping to add more before the end of 2009. Other benefits to this program include timely turn around on receipt of the Treasury benefit to the investor or financier.

What makes the use of Stimulus money unique is the ongoing reporting required. Contractors must make a note as to how many jobs they feel the project will create short term and long term and the recipients of the grant must also report production and savings for a time period as well.

With the Florida Solar Rebate program set to expire in June of 2010 starting a renewable energy project soon may result in 80% or more of your commercial investment coming back in cash grants.