NREL releases report on 1603 grant program results

The National Renewable Energy Laboratory (NREL) has released a report to estimate the direct and indirect jobs and economic impacts of projects supported by the 1603 Treasury Grant Program.

The program, which was operational from 2009 to 2011, offered renewable energy project developers a one-time cash payment in place of the Investment Tax Credit and Production Tax Credit and provided 30 percent of total eligible costs of a project for most types of renewable energy.

Amongst the report’s findings, the §1603 grant program has provided approximately $9 billion in funds to over 23,000 PV and large wind projects, comprising 13.5 GW of generating capacity. The study also estimates that construction- and installation-related expenditures are estimated to have supported an average of 52,000–75,000 direct and indirect jobs per year over the program’s operational period.

Click here to read the entire report, “Preliminary Analysis of the Jobs and Economic Impacts of Renewable Energy Projects Supported by the 1603 Treasury Grant Program.”

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