2009 Changes to Investment Energy Credits and Grants

The “Stimulus” legislation enacted by Congress in February, 2009 expanded the use of Investment Energy Credits (the “Credits”) under Section 48 of the Internal Revenue Code (“Code”). Before 2009, the Credits were generally available only for solar electric and heating projects and developers of wind, geothermal, biomass and other non-solar energy production facilities needed to claim Production Tax Credits (“PTC’s”) under Section 45 of the Code. PTC’s, unfortunately, are awarded only on the basis of the amount of electricity actually produced by the facility and not in relation to the cost of the investment.

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