Thank you Senator George Lemieux for your on going effort to protect our beaches and ensure that Florida and the Gulf receives the attention it deserves from our President. Thank you for your ongoing messages through your web site, email, YouTube, Social Media like twitter and correspondent interviews with traditional media outlets.
And a big solar industry Thank You for co-sponsoring the Amendment for the Extension and Expansion of the Federal Treasury 1063 Grant!
This program was originally part of the American Recovery and Reinvestment Act of 2009. The program is set to expire in the end of 2010. The benefit to this program is that it allows a qualified parties who invest in renewable energy, such as solar, to receive a grant in lieu of a 30% Federal Tax Credit.
Extension of this program is estimated to create over 143,000 jobs by the end of the year and enable 4,250 megawatts of renewable energy power projects to come on line.
Amendments offered also extends the Treasury Grant Program to non-profit power producers, the Tennessee Valley Authority, Real Estate Investment Trusts and provides technical clarification and elimination of a rule (“normalization”) and that normally would allow utilities to pass the grant money income to shareholders rather than reduce the cost of the project to the ratepayers.