Expanded Opportunities for Renewable Energy Tax Credits by Greg Sanderson

July 30, 2009

The American Recovery and Reinvestment Act of 2009 (the “Recovery Act”) extended the term of the IRC §45 credit for production of energy from renewable resources, and expanded the IRC §48 investment tax credit for energy property. In addition, §1603 of Recovery Act created a new provision allowing developers to apply for grants from the Department of Treasury equal to the amount of the IRC §48 investment tax credit. This brief by Greg Sanderson describes these renewable energy incentives.

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