allows taxpayers eligible for the federal business energy investment tax credit (ITC) to take this credit or to receive a grant from the U.S. Department of Treasury instead of taking the ITC for new installations - and the grant is tax-free!

Eligible Renewable/Other Technologies:  Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Photovoltaics, Landfill Gas, Wind, Biomass, Hydroelectric, Geothermal Electric, Fuel Cells, Geothermal Heat Pumps, Municipal Solid Waste, CHP/Cogeneration, Solar Hybrid Lighting, Hydrokinetic, Tidal Energy, Wave Energy, Ocean Thermal, Microturbines

Amount: 30% for solar property,

                           qualified fuel cell property,

                           qualified small wind property, and

                           property that is a part of a qualified facility.

Amount:10% for all other elegible property.

Max. Limit:  $1,500 per 0.5 kW for qualified fuel cell property
                       $200 per kW for qualified microturbine property
                       50 MW for combined heat and power system property,

                              with limitations for large systems

Terms: Grant applications must be submitted by 10/1/2011.

 

              Payment of grant will be made within 60 days of the grant 

              application date or the date property is placed in service,

              whichever is later.

 Placed in Service:  Grants are available to eligible property placed in service in 2009 or 2010, or placed in service by the specified credit termination date,** if construction began in 2009 or 2010.

 

**Credit termination date of January 1, 2013 for wind; January 1, 2014 for closed-loop biomass, open-loop biomass, landfill gas, trash, qualified hydropower, marine and hydrokinetic; January 1, 2017 for fuel cells, small wind, solar, geothermal, microturbines, CHP, and geothermal heat pumps.

 

Taxpayer Eligibility:  Only tax-paying entities are eligible for this grant. Federal, state and local government bodies, non-profits, qualified energy tax credit bond lenders, and cooperative electric companies are not eligible.  Partners or pass-thru entities for the organizations described above are also not eligible to receive this grant.

 

Effective Date: 1/1/2009