U.S. Treasury issues guidance on cash grant and construction start
U.S. Treasury Department issues guidance regarding the begin of construction requirement for qualifying for the stimulus cash grant for renewable energy projects.
Reported by U.S. law firm Stoel Rives, “The U.S. Treasury Department today released on its website additional guidance regarding the “begin construction” requirement for qualifying for the 30% ARRA cash grant.
To qualify for the grant, a project either must be placed in service in 2009 or 2010 or, if construction begins on or before December 31, 2010, must be placed in service by a specified credit termination date (December 31, 2012 for large wind projects; December 31, 2013 for biomass, certain geothermal and other projects; and December 31, 2016 for solar and other projects). ”
The actual FAQ by the US Treasury (word/ doc file)
Source: Law of Renewables, Stoel Rives