Renewable Energy Tax Credits Amt

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					   South Carolina Energy Office
   September 23, 2009

                        Summary of Energy-Related ARRA Funding
            (Note: This summary is updated frequently, and reflects our best understanding, but should be viewed as a work in progress)


   Energy Efficiency
                Title                             Summary                 $ Amount         Deadline             FOA #               Contact
                                       Provides federal loan guarantees
    Loan: 1703: Innovative Energy      for projects that employ                         Rolling, every 60
   Efficiency, Renewable Energy and    innovative energy efficiency,                  days, First Part I due   DE-FOA-
                                                                          $8,500 M                                           lgprogram@hq.doe.gov
Advanced Transmission and Distribution renewable energy, and                           9/14/09; last Part I    0000140
           Technologies (2009)         advanced transmission and                          due 8/24/10
                                       distribution technologies.
                                    The MTCprovides a 30% credit
                                    for investments in new,
                                    expanded, or re-equipped
                                    advanced energy manufacturing
                                    projects. Up to $2.3 billion in
 Tax: Advanced Energy Manufacturing MTCs will be allocated for                         9/16 (DOE), 10/16                   48Cquestions@hq.doe.govu
                                                                          $2300 M                                N/A
          Tax Credit (48 C)         advanced energy projects,                                (IRS)                                 ndefined
                                    which will support total capital
                                    investments of almost $7.7
                                    billion in new renewable and
                                    advanced energy manufacturing
                                    projects.




   Energy Infrastructure & Storage
                                              Summary                    $
               Title                                                                 Deadline          FOA #                    Contact
                                                                       Amount
                                    This FOA focuses on developing
                                    new, or refining existing, plans
  Grant: Local Energy Assurance     to integrate new energy                                           DE-FOA-
                                                                       $10.5 M       10/9/2009                         angela.bosley@netl.doe.gov
        Planning Initiative         portfolios (renewables,                                           0000098
                                    biofuels, etc) and new
                                    applications, such as Smart
   South Carolina Energy Office
   September 23, 2009
                                   Grid technology, into energy
                                   assurance and emergency
                                   preparedness plans. Available
                                   only to Cities.
                                   The objective of this Funding
                                   Opportunity Announcement
                                   (FOA) is to facilitate the
                                   development of a well-trained,
                                   highly skilled electric power
                                   sector workforce which is vital
 Grant: Workforce Training For The to implementing a national                                      DE-FOA-
                                                                     $144 M       11/23/09                        linda_k_jarnagin@rl.gov
         Electric Power Sector     clean-energy smart grid. This                                   0000152
                                   FOA covers two topics. Topic A
                                   is Developing and Enhancing
                                   Workforce Training Programs
                                   for the Electric Power Sector.
                                   Topic B is Smart Grid
                                   Workforce Training.
                                   Provides federal loan
   Loan: 1703: Innovative Energy   guarantees for projects that               Rolling, every 60
  Efficiency, Renewable Energy and employ innovative energy                   days, First Part I   DE-FOA-
                                                                   $8,500 M                                       lgprogram@hq.doe.gov
     Advanced Transmission and     efficiency, renewable energy,              due 9/14/09; last    0000140
  Distribution Technologies (2009) and advanced transmission and             Part I due 8/24/10
                                   distribution technologies.
                                   Provides federal loan
Loan: 1705: Advanced Transmission                                  $48,600 M                       DE-FOA-
                                   guarantees for transmission               Part I due 9/14/09                   lgprogram@hq.doe.gov
    and Distribution Technologies                                      **                          0000132
                                   infrastructure projects.
                                   The MTCprovides a 30% credit
                                   for investments in new,
                                   expanded, or re-equipped
                                   advanced energy
                                   manufacturing projects. Up to
Tax: Advanced Energy Manufacturing $2.3 billion in MTCs will be              9/16 (DOE), 10/16
                                                                    $2300 M                         N/A      48Cquestions@hq.doe.govundefined
           Tax Credit (48 C)       allocated for advanced energy                    (IRS)
                                   projects, which will support
                                   total capital investments of
                                   almost $7.7 billion in new
                                   renewable and advanced
                                   energy manufacturing projects.
   ** Approximate figure based on $6,000 M of appropriated Credit Subsidy Costs for all Title XVII, Section 1705
   eligible projects.
   South Carolina Energy Office
   September 23, 2009

   Fossil Energy/Coal-Based Power Generation
                 Title                        Summary                    $ Amount          Deadline            FOA #            Contact
                                   Provides federal loan
                                   guarantees for projects that                        Rolling, every 60
                                   employ innovative energy                          days, First Part I due   DE-FOA-
Loan: 1703: Advanced Fossil Energy                                       $8,500 M                                        lgprogram@hq.doe.gov
                                   efficiency, renewable energy,                      9/14/09; last Part I    0000140
                                   and advanced transmission                         due 8/24/10 (closed)
                                   and distribution technologies.
                                   The MTCprovides a 30% credit
                                   for investments in new,
                                   expanded, or re-equipped
                                   advanced energy
                                   manufacturing projects. Up to
                                   $2.3 billion in MTCs will be
Tax: Advanced Energy Manufacturing                                                    9/16 (DOE), 10/16                 48Cquestions@hq.doe.govu
                                   allocated for advanced energy         $2300 M                                N/A
         Tax Credit (48 C)                                                                  (IRS)                               ndefined
                                   projects, which will support
                                   total capital investments of
                                   almost $7.7 billion in new
                                   renewable and advanced
                                   energy manufacturing
                                   projects.




   Hydrogen and Fuel Cell
                 Title                            Summary                $ Amount         Deadline              FOA #           Contact
                                       Provides federal loan
    Loan: 1703: Innovative Energy      guarantees for projects that                    Rolling, every 60
   Efficiency, Renewable Energy and    employ innovative energy                      days, First Part I due   DE-FOA-
                                                                         $8,500 M                                        lgprogram@hq.doe.gov
Advanced Transmission and Distribution efficiency, renewable energy,                  9/14/09; last Part I    0000140
           Technologies (2009)         and advanced transmission                         due 8/24/10
                                       and distribution technologies.
                                       ATVM provides loans to
                                       automobile and automobile
                                       part manufacturers for the
                                       cost of re-equipping,
 Loan: ATVM: Advanced Technologies
                                       expanding, or establishing        $25,000 M          Rolling            N/A       ATVMLOAN@hq.doe.gov
       Vehicle Manufacturing ***
                                       manufacturing facilities in the
                                       U.S. to produce advanced
                                       technology vehicles or
                                       qualified components, and for
    South Carolina Energy Office
    September 23, 2009
                                          associated engineering
                                          integration costs.
                                          The MTCprovides a 30%
                                          credit for investments in new,
                                          expanded, or re-equipped
                                          advanced energy
                                          manufacturing projects. Up
                                          to $2.3 billion in MTCs will be
  Tax: Advanced Energy Manufacturing                                                      9/16 (DOE), 10/16                 48Cquestions@hq.doe.govu
                                          allocated for advanced energy       $2300 M                               N/A
           Tax Credit (48 C)                                                                    (IRS)                               ndefined
                                          projects, which will support
                                          total capital investments of
                                          almost $7.7 billion in new
                                          renewable and advanced
                                          energy manufacturing
                                          projects.




    Renewable Energy
Title                                     Summary                           $ Amount     Deadline                 FOA #     Contact
                                          This will provide funding for
 Grant: Expansion of Infrastructure for   refueling infrastructure and                                            DE-FOA-
                                                                              $5.5 M           10/04/09                      hank.eggink@go.doe.gov
           Ethanol Blends                 education and outreach for                                              0000125
                                          ethanol blends.
                                        This will fund R&D for algal
Grant: Development of Algal / Advanced                                                                            DE-FOA-    melissa.wise@go.doe.gov
                                       biofuels and advanced                   $85 M          9/15/2009
          Biofuels Consortia                                                                                      0000123             (DOE)
                                       fungible biofuels.
                                         This allows owners of non-
                                         solar renewable energy
                                         facilities to make an            No funding
                                         irrevocable election to earn a    cap. Per
                                         30% investment credit rather      project,
                                         than the PTC. The option        payment will
                                                                                                                            1603Questions@do.treas.go
 Tax: 1603-Grants in lieu of Tax Credits remains in effect for the      be equivalent        10/10/2009             N/A
                                                                                                                                     v (IRS)
                                         current period of the PTC,     to either 10%
                                         that is, through 2012 for        or 30% of
                                         wind energy facilities and      total project
                                         through 2013 for other               cost
                                         qualified renewable energy
                                         facilities.
    Loan: 1703: Innovative Energy      Provides federal loan                               Rolling, every 60
                                                                                                                  DE-FOA-
   Efficiency, Renewable Energy and    guarantees for projects that          $8,500 M    days, First Part I due               lgprogram@hq.doe.gov
                                                                                                                  0000140
Advanced Transmission and Distribution employ innovative energy                           9/14/09; last Part I
   South Carolina Energy Office
   September 23, 2009
         Technologies (2009)            efficiency, renewable energy,                      due 8/24/10
                                        and advanced transmission
                                        and distribution technologies.
                                        The MTCprovides a 30%
                                        credit for investments in
                                        new, expanded, or re-
                                        equipped advanced energy
                                        manufacturing projects. Up
                                        to $2.3 billion in MTCs will be
Tax: Advanced Energy Manufacturing                                                       9/16 (DOE), 10/16              48Cquestions@hq.doe.govu
                                        allocated for advanced             $2300 M                            N/A
         Tax Credit (48 C)                                                                     (IRS)                            ndefined
                                        energy projects, which will
                                        support total capital
                                        investments of almost $7.7
                                        billion in new renewable and
                                        advanced energy
                                        manufacturing projects.
   * Deadline for Letter of Intent only
   ** Approximate figure based on $6,000 M of appropriated Credit Subsidy Costs for all Title XVII, Section 1705
   eligible projects.


   State and Local Government
   Note: While many of these grants are closed on the federal level, there may be open deadlines at the state level. Please check with the
   appropriate contact.
                Title                             Summary                 $ Amount           Deadline         FOA #              Contact
                                        This is a formula grant which                                                     dyeej@id.doe.gov (DOE)
                                        will be handled by state
                                                                            $296 M
                                        energy offices. This will                                                             This program is
Grant: State Energy Efficient Appliance                                   (Nationally)                        DE-FOA-
                                        provide for the                                      10/15/2009                  administered in S.C. by the
     Rebate Program (SEEARP)                                              S.C. Amount                         0000119
                                        establishment and                                                                  SC Energy Office. For
                                                                          $4,298,227
                                        administration of State                                                            more information see
                                        Appliance Rebate                                                                    www.energy.sc.gov.
                                        The grants will go toward
                                        states, local governments,
                                                                                                                         lkuzni@netl.doe.gov (DOE)
                                        and tribal governments to
                                        support energy efficiency          $2,477 M
    Grant: Energy Efficiency and                                                                                              This program is
                                        and conservation and              (Nationally)                        DE-FOA-
   Conservation Block Grants (Non-                                                       8/10/2009 (closed)              administered in S.C. by the
                                        renewable energy in               S.C. Amount                         0000013
    Competitive Formula Grants)                                                                                            SC Energy Office. For
                                        government facilities. The           $3.5 M
                                                                                                                           more information see
                                        grants will go toward states,
                                                                                                                            www.energy.sc.gov.
                                        local governments, and
                                        tribal governments to
    South Carolina Energy Office
    September 23, 2009
                                          support energy efficiency
                                          and conservation and
                                          renewable energy in
                                          government facilities.
                                          Increases the funding                                                          lkuzni@netl.doe.gov (DOE)
                                          assistance level to $6,500
                                          per home, and allows new                                                             This program is
                                                                            $5,000 M
    Grant: Weatherization Assistance      weatherization assistance for                                                  administered in S.C. by the
                                                                           (Nationally)                        DE-FOA-
   Program (Non-Competitive Formula       homes that were                                  5/12/09 (closed)                 Governor’s Office of
                                                                           S.C. Amount                         0000051
               Grants)                    weatherized as recently as                                                     Economic Opportunity. For
                                                                            $58.89 M
                                          1994.                                                                             more information see
                                                                                                                         http://www.oepp.sc.gov/o
                                                                                                                             eo/programs.htm
                                         This is formula grant money
                                         that flows through the
                                         states’ energy programs
                                         within DOE’s EERE and is
                                         intended primarily for
                                         energy improvements in
                                         public facilities. The act only                                                 lkuzni@netl.doe.gov (DOE)
                                         allows this additional grant
                                                                            $3,100 M
                                         allocation for states that                                                           This program is
 Grant: State Energy Program Formula                                       (Nationally)                        DE-FOA-
                                         intend to adopt strict                            5/12/09 (closed)              administered in S.C. by the
Grants (Non-Competitive Formula Grants)                                    S.C. Amount                         0000052
                                         building energy codes and                                                         SC Energy Office. For
                                                                            $50.55 M
                                         intend to provide utility                                                         more information see
                                         incentives for energy                                                              www.energy.sc.gov.
                                         efficiency measures. This
                                         requirement can be satisfied
                                         by a letter from each state’s
                                         governor assuring all is
                                         being done to accomplish
                                         these measures.
                                         The intent of the funds                                                         denise.riggi@netl.doe.gov
                                         made available through this                                                               (DOE)
                                         FOA is to supplement state
                                         appropriations for Public            $46 M                                             This program is
   Grant: State Electricity Regulators
                                         Utility Commissions staffing,     (Nationally)                        DE-FOA-   administered in S.C. by the
  Assistance (Non-Competitive Formula                                                     8/31/2009 (Closed)
                                         expressly for the purpose of      S.C. Amount                         0000100    Office of Regulatory Staff.
                Grants)
                                         addressing the significant         $864,183                                      For more information see
                                         increase in PUC workload                                                        http://www.regulatorystaff
                                         created by ARRA electricity-                                                              .sc.gov/.
                                         related initiatives.
                                         This initiative will allow                                                      lkuzni@netl.doe.gov (DOE)
  Grant: Enhancing State Government                                           $40 M
                                         States to have well-
   Energy Assurance Capabilities and                                       (Nationally)                        DE-FOA-
                                         developed, standardized                           7/30/09 (closed)                   This program is
Planning for Smart Grid Resiliency (Non-                                   S.C. Amount                         0000091
                                         energy assurance and                                                            administered in S.C. by the
      Competitive Formula Grants)                                           $611,034
                                         resiliency plans that they                                                        SC Energy Office. For
   South Carolina Energy Office
   September 23, 2009
                                       can rely on during energy                                                 more information see
                                       emergencies and supply                                                    www.energy.sc.gov
                                       disruptions. The initiative
                                       focuses on developing new,
                                       or refining existing, plans to
                                       integrate new energy
                                       portfolios and new
                                       applications, such as Smart
                                       Grid technology, into energy
                                       assurance and emergency
                                       preparedness plans.
                                       This FOA focuses on
                                       developing new, or refining
                                       existing, plans to integrate
                                       new energy portfolios
                                       (renewables, biofuels, etc)
Grant: Local Energy Assurance Planning                                                              DE-FOA-    angela.bosley@netl.doe.go
                                       and new applications, such         $10.5 M      10/9/2009
               Initiative                                                                           0000098                v
                                       as Smart Grid technology,
                                       into energy assurance and
                                       emergency preparedness
                                       plans. Available only to
                                       Cities.
                                       This goal of this FOA is to
                                       promote acceleration of
                                       market adoption of
                                       renewable energy (RE)
                                       technologies. Projects should
                                       address the technical,
                                       economic, and policy
                                       barriers to implementing a                                              CRED_0000122@go.doe.go
 Grant: Community Renewable Energy combination of renewable                                         DE-FOA-           v (DOE)
                                                                           $21 M       9/13/2009
              Deployment               energy technologies into one                                 0000122
                                       integrated solution for a                                                 No known SC action.
                                       community to reduce its
                                       carbon footprint with the
                                       intent of creating examples
                                       that can be further
                                       replicated by other
                                       communities, nationally and
                                       internationally.
                                       This awards monies to state
                                                                                                                In S.C., this program is
                                       Workforce Investment
                                                                                                               administered through the
                                       Boards to invest in                $190 M
 Grant: Applications for State Energy                                                               SGA/DFA       S.C. Department of
                                       workforce strategies that        (Nationally)   10/20/2009
Sector Partnership and Training Grants                                                              PY–08–20          Commerce.
                                       target energy efficiency and     S.C. Amount
                                       renewable energy industries
                                                                                                                www.sccommerce.com
                                       and other green industries.
    South Carolina Energy Office
    September 23, 2009



    Transportation
                 Title                            Summary               $ Amount            Deadline              FOA #              Contact
                                        This FOA aims to improve
                                        vehicle efficiency. Areas of
                                        Interest: (1) Systems Level
                                        Technology Development,
                                        Integration, and
                                        Demonstration for Efficient
   Grant: Systems Level Technology      Class 8 Trucks
    Development, Integration, and       (SuperTruck) (2) Advanced
  Demonstration for Efficient Class 8   Technology Powertrains for                                               DE-FOA-
                                                                       $115-$240 M          9/9/2009                         rjarr@netl.doe.gov (DOE)
  Trucks (SuperTruck) and Advanced      Light-Duty Vehicles (ATP-                                                0000079
Technology Powertrains For Light-Duty LD) - undertake
            Vehicles (ATP-LD)           modeling/analysis or a full-
                                        scale vehicle demonstration
                                        to accelerate the
                                        development of cost-
                                        competitive engine and
                                        powertrain systems for
                                        light-duty vehicles.
                                        Funds for cost-shared
                                        projects that expand the                                                           Palmetto State Clean Fuels
                                        use of alternative fuel and                                                       Coalition applied for round 1
                                        advanced vehicle                                                                  funding in conjunction with
  Grant: Clean Cities FY09 Petroleum                                                                             DE-PS26-
                                        technologies including the                   Closed (There will be no              North Carolina. This grant
Reduction Technologies Projects for the                                   $300 M                                 09NT0123
                                        installation or acquisition of                     2nd Round)                     application was funded. For
        Transportation Sector ***                                                                                  6-04
                                        infrastructure necessary to                                                         more information, please
                                        directly support these                                                                       contact:
                                        vehicles. Generally                                                                alawrence@energy.sc.gov
                                        requires 50% match.
                                        Provides federal loan
                                        guarantees for projects
    Loan: 1703: Innovative Energy
                                        that employ innovative                        Rolling, every 60 days,
   Efficiency, Renewable Energy and                                                                              DE-FOA-
                                        energy efficiency,               $8,500 M    First Part I due 9/14/09;                lgprogram@hq.doe.gov
Advanced Transmission and Distribution                                                                           0000140
                                        renewable energy, and                         last Part I due 8/24/10
           Technologies (2009)
                                        advanced transmission and
                                        distribution technologies.
                                        ATVM provides loans to
                                        automobile and automobile
 Loan: ATVM: Advanced Technologies
                                        part manufacturers for the      $25,000 M             Rolling               N/A      ATVMLOAN@hq.doe.gov
       Vehicle Manufacturing ***
                                        cost of re-equipping,
                                        expanding, or establishing
    South Carolina Energy Office
    September 23, 2009
                                        manufacturing facilities in
                                        the U.S. to produce
                                        advanced technology
                                        vehicles or qualified
                                        components, and for
                                        associated engineering
                                        integration costs.
                                        The MTCprovides a 30%
                                        credit for investments in
                                        new, expanded, or re-
                                        equipped advanced energy
                                        manufacturing projects.
                                        Up to $2.3 billion in MTCs
Tax: Advanced Energy Manufacturing      will be allocated for                                                         48Cquestions@hq.doe.govu
                                                                      $2300 M    9/16 (DOE), 10/16 (IRS)      N/A
         Tax Credit (48 C)              advanced energy projects,                                                             ndefined
                                        which will support total
                                        capital investments of
                                        almost $7.7 billion in new
                                        renewable and advanced
                                        energy manufacturing
                                        projects.




    Workforce Development
                 Title                           Summary              $ Amount         Deadline             FOA #            Contact
                                        Projects funded through
                                        this solicitation will
                                        provide training and
                                        placement services in the
                                        energy efficiency and
                                        renewable energy
                                        industries for workers
                                        impacted by national           $100 M
Grant: Applications for Energy Training                                                                    SGA/DFA
                                        energy and environmental                       9/4/2009                           www.doleta.gov
             Partnerships                                                                                  PY–08–18
                                        policy, individuals in need
                                        of updated training related
                                        to energy efficiency and
                                        renewable energy
                                        industries and
                                        unemployed workers.
                                        Eligible applicants include
                                        nonprofit entities.
    South Carolina Energy Office
    September 23, 2009
                                        The Department will
                                        award grants to workforce
                                        development projects that
                                        focus on connecting target
                                        populations, including
                                        workers affected by
                                        significant automotive
                                        industry restructuring, to
Grant: Applications for Pathways out of                                                         SGA/DFA
                                        career pathways in green      $150 Million   9/29/09                   www.doleta.gov
                Poverty                                                                         PY 08–19
                                        industries. Training
                                        programs will prepare
                                        individuals for careers in
                                        any of the seven energy
                                        efficiency and renewable
                                        energy industries defined
                                        in Section 171(e)(1)(B)(ii)
                                        of the WIA.
                                        This awards monies to
                                        State Workforce
                                                                                                            In S.C., this program is
                                        Investment Boards to
                                                                      $190 Million                         administered through the
                                        invest in workforce
 Grant: Applications for State Energy strategies that target          (Nationally)              SGA/DFA       S.C. Department of
                                                                                     10/20/09                     Commerce.
Sector Partnership and Training Grants energy efficiency and                                    PY–08–20
                                        renewable energy              S.C. Amount
                                        industries and other green                                          www.sccommerce.com
                                        industries.
South Carolina Energy Office
September 23, 2009

Tax Incentives
Residential Energy Property Credit (Section 1121): The new law increases the energy tax credit for homeowners who make
energy efficient improvements to their existing homes. The new law increases the credit rate to 30 percent of the cost of all
qualifying improvements and raises the maximum credit limit to $1,500 for improvements placed in service in 2009 and 2010.

The credit applies to improvements such as adding insulation, energy efficient exterior windows and energy-efficient heating
and air conditioning systems.

A similar credit was available for 2007, but was not available in 2008. Homeowners should be aware that the standards in the
new law are higher than the standards for the credit that was available in 2007 for products that qualify as ―energy efficient‖ for
purposes of this tax credit. The IRS has issued guidance that will allow manufacturers to certify that their products meet these
new standards.

Until the guidance is released, homeowners generally may continue to rely on manufacturers’ certifications that were provided
under the old guidance. For exterior windows and skylights, homeowners may continue to rely on Energy Star labels in
determining whether property purchased before June 1, 2009, qualifies for the credit. Manufacturers should not continue to
provide certifications for property that fails to meet the new standards.

Residential Energy Efficient Property Credit (Section 1122): This nonrefundable energy tax credit will help individual
taxpayers pay for qualified residential alternative energy equipment, such as solar hot water heaters, geothermal heat pumps
and wind turbines. The new law removes some of the previously imposed maximum amounts and allows for a credit equal to 30
percent of the cost of qualified property. See Notice 09-41.

Plug-in Electric Drive Vehicle Credit (Section 1141): The new law modifies the credit for qualified plug-in electric drive
vehicles purchased after Dec. 31, 2009. To qualify, vehicles must be newly purchased, have four or more wheels, have a gross
vehicle weight rating of less than 14,000 pounds, and draw propulsion using a battery with at least four kilowatt hours that can
be recharged from an external source of electricity. The minimum amount of the credit for qualified plug-in electric drive
vehicles is $2,500 and the credit tops out at $7,500, depending on the battery capacity. The full amount of the credit will be
reduced with respect to a manufacturer's vehicles after the manufacturer has sold at least 200,000 vehicles.

Plug-In Electric Vehicle Credit (Section 1142): The new law also creates a special tax credit for two types of plug-in
vehicles — certain low-speed electric vehicles and two- or three-wheeled vehicles. The amount of the credit is 10 percent of the
cost of the vehicle, up to a maximum credit of $2,500 for purchases made after Feb. 17, 2009, and before Jan. 1, 2012. To
qualify, a vehicle must be either a low speed vehicle propelled by an electric motor that draws electricity from a battery with a
capacity of 4 kilowatt hours or more or be a two- or three-wheeled vehicle propelled by an electric motor that draws electricity
from a battery with the capacity of 2.5 kilowatt hours. A taxpayer may not claim this credit if the plug-in electric drive vehicle
credit is allowable.
South Carolina Energy Office
September 23, 2009
Conversion Kits (Section 1143): The new law also provided a tax credit for plug-in electric drive conversion kits. The credit is
equal to 10 percent of the cost of converting a vehicle to a qualified plug-in electric drive motor vehicle and placed in service
after Feb. 17, 2009. The maximum amount of the credit is $4,000. The credit does not apply to conversions made after Dec.
31, 2011. A taxpayer may claim this credit even if the taxpayer claimed a hybrid vehicle credit for the same vehicle in an earlier
year.

Treatment of Alternative Motor Vehicle Credit as a Personal Credit Allowed Against AMT (Section 1144): Starting in
2009, the new law allows the Alternative Motor Vehicle Credit, including the tax credit for purchasing hybrid vehicles, to be
applied against the Alternative Minimum Tax. Prior to the new law, the Alternative Motor Vehicle Credit could not be used to
offset the AMT. This means the credit could not be taken if a taxpayer owed AMT or was reduced for some taxpayers who did
not owe AMT.

New Clean Renewable Energy Bonds (Section 1111): The new law increases the amount of funds available to issue new
clean renewable energy bonds from the one-time national limit of $800 million to $2.4 billion. These qualified tax credit bonds
can be issued to finance certain types of facilities that generate electricity from renewable sources (for example, wind and
solar).

Qualified Energy Conservation Bonds (Section 1112): The new law increases the amount of funds available to issue
qualified energy conservation bonds from the one-time national limit of $800 million to $3.2 billion. These qualified tax credit
bonds can be issued to finance governmental programs to reduce greenhouse gas emissions and other conservation purposes.

Extension of Renewable Energy Production Tax Credit (Section 1101): The new law generally extends the ―eligibility
dates‖ of a tax credit for facilities producing electricity from wind, closed-loop biomass, open-loop biomass, geothermal energy,
municipal solid waste, qualified hydropower and marine and hydrokinetic renewable energy. The new law extends the "placed
in service date" for wind facilities to Dec. 31, 2012. For the other facilities, the placed-in-service date was extended from
December 31, 2010 (December 31, 2011 in the case of marine and hydrokinetic renewable energy facilities) to Dec. 31, 2013.

Election of Investment Credit in Lieu of Production Credit (Section 1102): Businesses who place in service facilities that
produce electricity from wind and some other renewable resources after Dec 31, 2008 can choose either the energy investment
tax credit, which generally provides a 30 percent tax credit for investments in energy projects or the production tax credit,
which can provide a credit of up to 2.1 cents per kilowatt-hour for electricity produced from renewable sources. A business
may not claim both credits for the same facility.

Repeal of Certain Limits on Business Credits for Renewable Energy Property (Section 1103): The new law repeals the
$4,000 limit on the 30 percent tax credit for small wind energy property and the limitation on property financed by subsidized
energy financing. The repeal applies to property placed in service after Dec. 31, 2008.

Coordination with Renewable Energy Grants (Section 1104): Business taxpayers also can apply for a grant instead of
claiming either the energy investment tax credit or the renewable energy production tax credit for property placed in service in
2009 or 2010. In some cases, if construction begins in 2009 or 2010, the grant can be claimed for energy investment credit
South Carolina Energy Office
September 23, 2009
property placed in service through 2016, and for qualified renewable energy facilities, the grant is 30 percent of the investment
in the facility and the property must be placed in service before 2014 (2013 for wind facilities).

Temporary Increase in Credit for Alternative Fuel Vehicle Refueling Property (Section 1123): The new law modifies the
credit rate and limit amounts for property placed in service in 2009 and 2010. Qualified property (other than property relating
to hydrogen) is now eligible for a 50 percent credit, and the per-location limit increases to $50,000 for business property
(increases to $2,000 for other/residential locations). Property relating to hydrogen keeps the 30 percent rate as before, but the
per-business location limit rises to $200,000.



Tax summary provided by the U.S. IRS at http://www.irs.gov/newsroom/article/0,,id=206871,00.html

				
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Description: Renewable Energy Tax Credits Amt document sample