Solar developers seek two-year extension of cash grant program for new projects

摘要

Arguing that an investment tax credit that was initially ndesigned to help solar power developers is not as beneficial as na direct cash grant subsidy, solar industry executives November n16 said it was “absolutely critical” that Congress pass a two-year nextension of the cash grant program slated to expire at year-end.n The American Recovery and Reinvestment Act of 2009 cre-nated the Treasury Grant Program, otherwise known as the 1603 nprogram. It allows the owner of a commercial solar project to nreceive a 30% payment, in cash, once the project is brought n“into service” and is providing electricity. The recipient gets ncash in lieu of the solar Investment Tax Credit. Solar project napplicants for the 1603 cash are eligible only if they start con-nstruction by December 31 and finish by December 31, 2016.