Direct Federal Payments Available for Renewable Energy Projects
The U.S. Department of the Treasury and the U.S. Department of Energy announced an estimated $3 billion for the development of renewable energy projects around the country and made available the guidance businesses will need to submit a successful application. Funded through the American Recovery and Reinvestment Act, the program will provide direct payments in lieu of tax credits in support of an estimated 5,000 biomass, solar, wind, and other types of renewable energy production facilities. READ MORE
To expedite implementation of the program, Treasury and Energy are today making available the terms and conditions, guidance, and a sample application on the Treasury Department Web site, so that companies can prepare successful applications in advance of the launch of the Web-based application in the coming weeks.
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