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$550 Million More For U.S. Renewable Energy Stimulus

Last week the United States Treasury set aside another $550 million in stimulus funding for renewable energy. This new addition brings the total amount to over $1 billion that has came from the DOE, Department of Energy. The new funds were divided between 25 projects as a part of the U.S. governments 1603 program.

Under the 1603 program renewable energy projects can apply to receive direct cash assistance up to 30 percent of the project cost, but they will not be able to receive any other existing energy tax credits. A few of the top developers that received the awards of as much as $102 million were Sun Edison, Horizon Wind and First Wind.