Renewables

1603 tax grant passed House

The U.S. House passed a one-year extension of the Department of Treasury Section 1603 tax grant program as part of the tax bill compromise on Dec. 16 and President Obama signed off on the bill the following day.

The United States Tax Grant Program (TGP), also known as 1603, is credited as being the main driver for the strong growth of solar and has also helped keep wind installations going in the U.S. in 2010. The program covers up to 30 percent of the cost of renewable energy projects. It was set to expire at the end of the year.

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