The U.S. Treasury Department recently announced that it is accepting applications for the Section 1603 program, provided by the American Recovery and Reinvestment Act (ARRA). The program will provide direct payments in lieu of tax credits to companies that create and place in service renewable energy facilities beginning January 1, 2009. Under the program, at least $3 billion in financial support will be awarded to approximately 5,000 bio-mass, solar, wind, and other types of renewable energy production facilities. Read More…