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Stimulus Money May Finally Flow To Green Energy
Forbes.com (Jul 9 2009)
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Treasury announces $3 billion in federal grants to cover upfront project costs.
It's been a long time coming, but green energy business are about to get their promised boost from the economic stimulus package that President Obama signed into law in February.
Treasury Secretary Timothy Geithner on Thursday announced rules that will finally allow developers of wind, solar, biomass and other green energy projects to apply for a total of $3 billion in federal grants to cover upfront project costs. The funding, part of the American Recovery and Reinvestment Act, will be critical to boosting the fortunes of limping green industries like wind power, where total installations in 2009 will likely fall 40% below last year as a result of the broad economic downturn.
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