Section 1603 Cash Grants: Guidance for Qualifying Your Project by December 31, 2010

Section 1603 cash grants have been a lifeline for many renewable energy projects. The program provides a cash grant to applicants equal to 30 percent of the project’s cost. With the cash grant program set to expire on January 1, 2011, developers, lenders, and investors relying on cash grants for projects must take steps prior to the end of the year to ensure projects are properly qualified to receive the cash grant.

In the first session of Foley’s Energy Briefing Series, Foley Partner Jeff Atkin and Deloitte Tax LLP Senior Manager Tom Stevens will review the required steps for a renewable project developer to “begin construction,” including to meet Section 1603’s safe harbor requirements. You’ll learn which project costs are eligible for cash grant payments. Foley’s Energy Industry Team Chair Jim Tynion will host this briefing and introduce the speakers.