Section 1603 Treasury Grants were made available to solar and other renewable energy projects in lieu of tax credits by the American Recovery and Reinvestment Tax Act of 2009. In the case of solar property, the Section 1603 Grant is 30 percent of the cost basis of the qualified property. In administering the Grant Program, the Treasury Department has routinely reduced the amount of the Section 1603 Grants paid to applicants below the amounts claimed.
1603 Treasury Program
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SEIA's revised Guide to Federal Tax Incentives for Solar Energy is an exclusive benefit for members. Learn about recent updates to the manual from the author, Keith Martin of Chadbourne & Parke LLP. Recent tax developments and policy changes will be discussed.
This paper is intended to highlight best practices, as well as common pitfalls in valuing solar energy projects including the tangible and intangible assets comprising a fully contracted in-place system (a “solar asset”).
The U.S. solar market is increasingly becoming a central focus of global industry attention, but state-by-state differences in regulations, incentives, utilities, and financing structures introduce more complexities in comparison to other markets. As a result, it has long been difficult to track and understand the changing market dynamics for solar energy in the U.S.
Statement from Rhone Resch, President and CEO of the Solar Energy Industries Association, about Federal Budget Sequestration:
Solar Energy Industries Association (SEIA) President and CEO Rhone Resch today released the following statement in honor of the 40th anniversary of Earth Day.
The Solar Energy Industries Association (SEIA) today released an independent study projecting the positive economic impact of the Department of Treasury Grant Program (TGP) and the Solar Manufacturing Investment Tax Credit. The study found that extending the TGP by two years and including solar manufacturing in the industries' existing tax credit would add 200,000 new domestic jobs to the solar workforce and supporting industries in the United States.
Solar Energy Industries Association (SEIA) President and CEO Rhone Resch today praised U.S. Senator Harry Reid (D-NV) for working with U.S. Energy Secretary Steven Chu and U.S. Interior Secretary Ken Salazar to select a site for the Solar Demonstration Zone Project. The two agencies chose a site that will take advantage of Nevada's world-class solar resources to highlight the latest innovations in solar technologies while creating clean energy jobs.
Coalition of Over 750 Companies, Small Businesses and Organizations Urge Congress to Extend Successful 1603 Treasury Program
Today, a coalition of more than 750 companies, small businesses and organizations will send a letter to Congress calling for a one-year extension of the Department of Treasury’s Section 1603 Program. The signatories on the letter represent hundreds of thousands of jobs in all 50 states across a dozen energy technology industries and related sectors including electrical contractors, roofers and engineers.