DoE said the programme is important to help encourage private sector investment in renewable energy projects, and create jobs that ‘can’t be outsourced’.
The programme is being run by DoE in conjunction with the Department of the Treasury, and comes out of the American Recovery and Reinvestment Act.
Under the deal the applicants would be assessed for immediate payouts to cover part of the costs of projects but would not get tax credits in future. The current system is based on tax credit applications, and therefore the new programme can improve cashflow for private investors.
The Treasury’s application submissions page is at: https://treas1603.nrel.gov/
