Stimulus Package + Other Government Funding Sources

The American Recovery and Reinvestment Act of 2009 (ARRA), commonly known as the "Stimulus Package," has been designed to "create and save jobs, jumpstart our economy, and build the foundation for long-term economic growth." Within that framework, ARRA aims to provide a major boost to the clean technology industry—particularly to renewable energy and energy efficiency—through a combination of research support, direct grants to the public and private sectors, tax incentives, and loan guarantees. In some cases, ARRA’s new funding mechanisms extend or broaden existing programs instituted under the Bush administration. For example, deadlines for tax credit eligibility for non-solar renewable energy projects have been extended, and extant grant and loan guarantee programs have been augmented. In other cases, entirely new programs are being developed. New programs include investment tax credits for producers of renewable energy equipment and the option to receive cash grants up front for the construction of renewable energy projects.

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