I am working on a commercial solar project and I want to apply for a cash grant in in lieu of the federal business energy investment tax credit (ITC). I heard that the The American Recovery and Reinvestment Act (ARRA) created a renewable energy grant program that will be administered by the U.S. Department of Treasury. How do you apply? What is the minimum size project? Thanks for the help on this.
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The The American Recovery and Reinvestment Act of 2009 (H.R. 1), enacted in February 2009, created a renewable energy grant program that will be administered by the U.S. Department of Treasury. This cash grant may be taken in lieu of the federal business energy investment tax credit (ITC). In July 2009 the Department of Treasury issued documents detailing guidelines for the grants, terms and conditions and a sample application. There is an online application process, and applications are currently being accepted. See the US Department of Treasury program web site for more information, including answers to frequently asked questions.
There is a very good FAQ on the site for the program. Remember only the property owner qualifies for the cash grant, the installer or contractor can submit the application on their behalf but they don't qualify.
Question: Do builders or contractors who install solar systems on residential properties qualify for payment?
Answer:No, unless they continue to own the solar property.
The DSIRE website, has a ton of great information on the U.S. Department of Treasury - Renewable Energy Grants.
Solar: The grant is equal to 30% of the basis of the property for solar energy.
Here is a link to more information about the program with guidance from the Department of Treasury
Hello,
good information. Thanks for sharing
Thanks,
Jones
Jared Bartie
Those are nice tips. Anyway, does anyone knows if it is also covered in the tax break?