Government initiates $3bn renewables programme
The US Treasury and Department of Energy today announced today a $3 billion funding programme for the development of renewable energy projects, as well as publishing application guidance for obtaining funds.
Under the American Recovery and Reinvestment Act (Recovery Act), the programme, will provide direct payments in lieu of tax credits to an estimated 5,000 bio-mass, solar, wind, and other types of renewable energy production facilities.
Although it is not yet accepting applications for the funding, the Treasury has made programme terms and conditions, guidance, and a sample application available online at: http://www.treas.gov/recovery/1603.shtml. A web based application will be launched in coming
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