NEWS: U.S. Ramping Up for Renewable Energy Stimulus Grants

Dispatch from SSC Intern Jason Wirick

Applications for renewable energy project grants, available under the American Recovery and Reinvestment Act of 2009, are now being accepted. “The U.S. government on Friday said it is now accepting applications for some $3 billion in government grants to boost development of renewable energy projects around the country.” Reuters reports.

The grants will provide 30% of the total cost of the project or facility, which is essentially money coming from the U.S. government. These projects must begin with construction within this year or by the end of the year 2010. Over $3 billion dollars are being used for investments in an estimated 5,000 biomass, solar, wind and other renewable energy production facilities. These new projects will ensure the development of the renewable energy sector in the next couple of years and will provide work for many unemployed Americans.

The government plans to have checks deposited into a company's bank account within 60 days after receiving an eligible application.

Be on the lookout for new renewable energy projects popping up throughout the states.

Access the entire Reuters article here.