Renewable Energy, Energy Efficiency, and Electricity Transmission Funding Opportunities in the American Recovery and Reinvestment Act of 2009
Environmental Law Alert 03/06/09
Quarles & Brady is tracking the opportunities for the funding of renewable energy, energy efficiency, and electricity transmission projects in the American Recovery and Reinvestment Act of 2009 (the "Act"), signed into law on February 17. The funding opportunities provided in the Act consist of grants, bonds, loans, loan guarantees and tax credits. Much of the funding for energy-related projects will be channeled through existing or new temporary funding programs operated by the U.S. Department of Energy and the U.S. Department of the Treasury.
The Act imposes deadlines on the agencies responsible for distributing funds to accelerate the application and approval processes. As a result, announcements about available opportunities are expected to be posted on agency Web sites continuously over the next several months, and the timelines for submitting applications and proposals will be short. The Department of Energy announced on February 25 that the agency plans to streamline its application processes in order to make the process less cumbersome for applicants and to ensure that the agency can make its loan guarantees allocated under the Act available as soon as early summer. Those entities who may be eligible for such funding are encouraged to check back often on the Web links provided in the chart. Additional information about the Act and disbursement processes and progress is available at http://www.recovery.gov/. For more details or if you have any questions, please contact Michelle De Blasi at 602-229-5448 / [email protected] or your Quarles & Brady attorney.