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Preliminary Evaluation of the Impact of Section 1603 Treasury Grant Program on Renewable Energy Deployment in 2009

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Mark Bolinger, Ryan Wiser, Naïm Darghouth
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This report evaluates the effectiveness of section 1603 of the Recovery Act, which enables qualifying commercial renewable energy projects to choose between the production tax credit (PTC), the investment tax credit (ITC), or a cash grant. The cash grant program has been heavily used by renewable project developers and provides significant value. The grant program may have directly motivated 2,400 MW of wind power and 51,600 short-term full-time-equivalent (FTE) gross job-years during construction and 3,860 gross long-term FTE jobs during operation.