Grant program passed, thousands of renewable energy jobs saved

From an article in Renewable Energy World:

Washington, D.C. -- In typical fashion, the U.S. Congress passed a suite of last-minute tax laws last night, including an extension of the Treasury Grant Program (TGP) for renewable energy project developers.

Trade groups in Washington have been pushing hard for an extension of the program, which provides a cash payment of up to 30% of equipment costs in place of the Investment Tax Credit. The grant program was responsible for a large portion of the renewable energy projects built throughout the U.S. in 2010. Originally passed as part of the 2009 stimulus package, the TGP was supposed to expire at the end of December.

Because there are still a limited number of financial institutions able to finance projects by taking advantage of tax credits, the TGP has opened up new sources of capital for project developers. According to the Solar Energy Industries Association (SEIA), the grant program spurred over 1,100 solar projects and $18 billion dollars of investment in 2010.

“This program has successfully created thousands of jobs and opportunity in all 50 states for construction workers, electricians, plumbers, contractors that have struggled in this harsh economic climate,” said SEIA President Rhone Resch in a statement.

While the wind industry saw a significant drop in installations compared to 2009, the grant program helped keep thousands of MW on the table for 2010 and 2011. American Wind Energy Association CEO Denise Bode projected a loss of tens of thousands of wind jobs in 2011 without an extension of the TGP.

Easy to understand fact sheets on energy tax credit

The Web site awkwardly called the Database for State Incentives for Renewables and Efficiency hosts two useful fact sheets for any individual or business considering a renewable energy installation.

Residential Renewable Energy Tax Credit covers these eligible renewable enrgies and technologies: Solar Water Heat, Photovoltaics, Wind, Fuel Cells, Geothermal Heat Pumps, Other Solar Electric Technologies

Business Energy Tax Credits covers these eligible renewable enrgies and technologies: Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Photovoltaics, Wind, Biomass, Geothermal Electric, Fuel Cells, Geothermal Heat Pumps, CHP/Cogeneration, Solar Hybrid Lighting, Direct Use Geothermal, Microturbines

Geothermal workshops in May

A workshop announcement from the Energy Center of Wisconsin:

This training is designed to give you information that will help you assess whether a geoexchange system is right for your next project, be it a home, school or business. Discover the right way to plan and evaluate your next successful geoexchange project!

We are facing a number of energy challenges in the next decade. The comfort system in our buildings is one of the most important choices we will make regarding a building’s performance. Facing rising energy prices, residential and commercial customers are seeking ways to manage their energy use and costs. The growing importance architects and builders are placing on environmental sustainability without sacrificing economic considerations makes geoexchange systems (geothermal heat pump technology) an efficient and cost effective solution.

Dates & locations
Tuesday, May 6, 2008 – Hudson, WI
Wednesday, May 7, 2008 – Madison, WI
Thursday, May 8, 2008 – Green Bay, WI