Tuesday, April 7, 2009

Updates on Econ Stimulus Funding for Solar

On February 17, President Obama signed HR 1, The American Recovery and Reinvestment Act (a.k.a. the Stimulus Bill). The bill contains 19 provisions that help grow markets, finance projects, expand manufacturing, access federal lands, build transmission lines, increase research and development, train workers, and reduce the tax burden for solar companies. Combined, solar has access to over $25 billion in government funded construction projects, illustrating the President’s commitment to renewable energy and his specific interest in promoting solar technologies. The Sharp Solar Policy Team has outlined how your business can take advantage of these funds in the most timely and efficient way. Below you will find the 15 provisions that most directly affect your business based on four categories:

                 

·         Federal guidance pending: Agency guidance in the next 60 to 90 days.

·         Enhanced funding for existing State programs: Federal funds will be directed to States for distribution. State agencies will provide access to funds.

·         Agency specific appropriations: Funds directed to specific agencies for programs or projects that are most likely already in the pipeline.

·         Tax code provision: Effective upon enactment unless noted otherwise.

 

The provisions include (solar is eligible for a portion of this funding):

·         Grants in lieu of 30% ITC

·         Loan Guarantees - $6 billion should support $60 billion worth of loan guarantees

·         State Funding - $16.8 billion including $3.1 billion for state energy programs

·         Solar on Federal Property - $5.5 billion

·         Clean Renewable Energy Bonds (CREBs) – an additional $1.6 billion

·         Qualified Energy Conservation Bonds - $2.4 billion

·         Solar for Schools - $9.75 billion

·         Green Collar Jobs - $500 million

·         Solar Water Treatment Plants - $6 billion

·         Department of Interior Funding - $125 million

·         Solar for the Military - $400 million

 

Click here for full details: http://gosolar.cc/solar_universe/stimfunding040709.pdf

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