16 Mar '12, 7pm

Why the 1603 Treasury Grant Program Matters to Solar and RE

Last Tuesday, March 13, Congress failed to act to renew the 1603 Treasury Grant program, and that’s not only a loss for the entire solar industry, but other renewables too. Some may see 1603 as a program that only benefits large scale solar, but 1603 indirectly benefits the residential solar community, as well as solar thermal, and all other renewables. Without 1603, wind, geothermal, tidal energy — you name it — are all going to see declines in 2012 after any residual “safe harbors” have expired. Briefly, 1603 is a grant (cash) that is given to commercial and utility solar developers and owners instead of the renewable energy investment tax credit (ITC). Both the 1603 and the ITC are equal to 30 percent of the gross cost of the project and are taxable as business income. (I know, residential ITC is calculated differently, but not when it's sold through a solar PPA/lease.)...

Full article: http://www.renewableenergyworld.com/rea/blog/post/2012/03...

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