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Section 1603 Extended Through 2011

Section 1603 Extended Through 2011

- December 17th, 2010

The US House of Representatives voted last night to pass an extension of the Treasury Grant Program which provides a cash grant of up to 30% of equipment costs for renewable energy projects.  The Senate passed the legislation earlier this week and President Obama is expected to sign the documents soon.  This extension is great news for all types of renewable energy project developers who may have been scrambling to get their ducks in a row to qualify for the grant, which in many cases could make or break a project.  As a result of this legislation, more opportunities for renewable energy projects will be made possible, creating and maintaining vital green jobs as America hovers around the 10% unemployment rate.  As SEIA President Rhone Resch expressed, “this program has successfully created thousands of jobs and opportunity in all 50 states for construction workers, electricians, plumbers, (and) contractors that have struggled in this harsh economic climate.”  Click here to read the Renewable Energy World article.

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