Legal Alert: Application Deadline for Renewable Energy Tax Credit
The American Recovery and Reinvestment Act of 2009 established the "Qualifying Advanced Energy Project Credit," which is a federal income tax credit generated from investments in "Qualifying Advanced Energy Projects" (i.e. facilities that produce renewable energy property). The U.S. Department of the Treasury (Treasury) and the U.S. Department of Energy (DOE) recently issued joint guidance describing how this tax credit program works. In order to participate in this program, you will first have to submit to the DOE a short preliminary application on or before September 16, 2009.