The Treasury Department recently published additional guidance on the Section 1603 renewable energy tax credit cash grant program, specifically with regards to the beginning of construction for projects utilizing 1603 funds. The guidance provides twenty-five questions and answers covering topics such as physical work of a significant nature, the 5% safe harbor, and the process for demonstrating the beginning of construction. Most notably, for a property that is not placed in service in 2009 or 2010, an eligibility requirement of the Section 1603 program is that construction on the property must begin in 2009 or 2010. Read More…