If you are an owner of a commercial or industrial property who is thinking about investing in a rooftop solar energy system, there is no better time to do so than right now.
A U.S. Department of the Treasury cash grant program designed to promote the production of electricity from alternative sources of energy such as solar and wind is now in effect that makes solar an extraordinarily attractive investment. But, because it is set to expire at the end of 2010, it is important to act now.
The program, the Section 1603 Renewable Energy Treasury Grant Program, offers a cash grant of up to 30 percent for qualified solar projects undertaken by the end of 2010. The program is part of the American Recovery and Reinvestment Act of 2009 (ARRA), commonly known as the Stimulus Act or the Recovery Act.
The program has been widely credited with contributing to strong growth in the renewable energy sector, as well as creating thousands of green jobs and helping the nation meet its renewable energy goals. Nearly $2 billion was disbursed in 2009, helping to stimulate nearly $9 billion of new private investment and creating approximately 72,000 jobs in wind and solar alone.
But, you may ask, isn’t it too late? If I’m only thinking of solar now, is there still enough time to take advantage of the Treasury Grant Program before the end of the year?
The answer is that there is still time — as long as work begins this year… continued.