Treasury Revises Guidance for Renewable Energy Grant Program

more+
less-

The U.S. Department of the Treasury issued guidance in July 2009 for Treasury’s renewable energy grant program. This week, Treasury revised that guidance in regard to the “beginning of construction” requirement for renewable energy projects that are placed in service after 2010.

Beginning of Construction Requirement

The Treasury grant program, enacted as §1603 of the American Recovery and Reinvestment Act of 2009, provides a cash grant for the development of certain renewable energy projects equal to 30 percent (or 10 percent for certain technologies) of the eligible costs of the project. The Treasury grant is available in lieu of the Internal Revenue Code (IRC) § 45 production tax credit and the IRC § 48 investment tax credit.

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Published In: Construction Updates, Energy & Utilities 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.

© Sutherland Asbill & Brennan LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »