Energy and Clean Technology Alert: "Grants in Lieu of Tax Credits" - New Guidance on Eligibility and How To Apply


The American Recovery and Reinvestment Act of 2009 (ARRA) expanded tax incentives for the renewable energy sector in several ways. One significant change under Section 1603 of the ARRA allows taxpayers to receive a cash grant (a “Section 1603 grant”) in lieu of Section 45 production tax credits (PTC) or Section 48 investment tax credits (ITC) for investment in certain renewable energy property. On July 9, 2009, the Treasury Department issued important guidance regarding eligibility and how to apply for Section 1603 grants.

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Published In: General Business Updates, Energy & Utilities Updates, Environmental Updates, Finance & Banking Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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