"Solar stimulus ready, set and… coming soon," says industry leader, who calls for extension on grant application project sunset‐date due to delays and presses for release of final application and remaining stimulus guidelines.
WASHINGTON, DC - Solar Energy Industries Association President and CEO Rhone Resch
Treasury of guidelines for the renewable energy grant program created by the American
Recovery and Reinvestment Act on February 17:
"Solar stimulus is ready, set and … coming soon. The Treasury guidelines allow solar developers
to prepare formal applications that will be accepted at a later date. Once Treasury begins
accepting grant applications, the solar industry will create tens of thousands of jobs and spur
investment in the clean energy economy.
"Financing for commercial solar installations, including utility‐scale solar plants, has been
impaired by great uncertainty in financial markets and anticipation of stimulus provisions like
the grant program. There are dozens of large solar power projects in the pipeline that can now
"While today's announcement is a positive step and will create much‐needed momentum in the
nation's economic recovery, we still await the final application form and guidance for several
other stimulus programs like the Department of Energy loan guarantees and the manufacturing
tax credit. We need these programs fully in place for the solar industry to have the game‐
changing economic impact we expect. The solar energy provisions in the stimulus bill were
projected to create 60,000 jobs in the solar industry in 2009 alone.
"With delays in releasing the Treasury and other guidelines, we call on Congress to include a
one‐year extension of the grant program project sunset‐date in the energy bill currently being
debated so that the program meets the intended goals for jobs and investment."
The Department of Treasury guidelines released today were required as part of a new program
created by the American Recovery and Reinvestment Act that provides grants equal to 30
percent of the cost of solar property placed in service during 2009 and 2010. This grant
program is a critical alternative to the solar investment tax credits extended by Congress in
October 2008 that are not functioning as intended because of the current economic climate.