Treasury Grant Program extension will create jobs

The Department of Energy Treasury Grant Program for renewables has been extended until the end of 2011. This is good news for large commercial solar. What does it mean for the economy? Independent studies estimate that since the program was initiated in July 2009, the Grant Program has created some 20,000 jobs. If the program is extended, it will help create 65,000 more jobs in the solar industry.
Part of the American Reinvestment and Recovery Act of 2009, The Treasury Grant Program allows those who qualify for an investment tax credit to receive a cash grant instead. If not extended, the loss of the Program would have placed ten billion dollars of renewable energy investment at risk.

Solar to take a back seat in next Congress

Even with the recent passage of the Treasury Grant Program, which continues for one year the 30% cash grant for businesses installing solar, this 111th Congress has been no big friend to renewables. A recent study predicts that Republicans in the upcoming Congress will push for more extraction of traditional fossil fuels, resist regulation of carbon emissions, and replace mandates with incentives.