US Departments of Treasury and Energy Provide Guidance on $3 Billion Renewable Energy Cash Grant Program

July 14, 2009
An estimated $3 billion in cash grants are to be awarded to renewable energy projects pursuant to the American Recovery and Reinvestment Act. The grant program is intended to promote clean energy development in an economic environment that has limited the ability of tax equity investors to monetize the traditionally available production and investment tax credits. This update discusses the long-anticipated guidelines, part of the government’s continuing efforts to encourage development and implementation of renewable energy projects.