The U.S. Treasury Department in partnership with the U.S. Department of Energy released guidelines this month for businesses to apply for grants from a recovery package of approximately $3 billion for the development of renewable energy projects in the United States. The grant program will provide direct payments in lieu of tax credits in support of an estimated 5,000 biomass, solar, wind, and other types of renewable energy production facilities. The grant program implements the applicable provisions of the American Recovery and Reinvestment Tax Act of 2009 that was signed into law by President Obama in February 2009.

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