IRS announces CREB recipients

0 Comments | Renewable Energy Today, Dec 4, 2006

The Internal Revenue Service recently announced allocation of $800 million in tax credit bonds to renewable and alternative energy projects across the US.

More than 600 projects received Clean Renewable Energy Bonds. These include 434 solar facilities, 112 wind facilities, 14 hydro power facilities and 13 open-loop biomass facilities. The awarded bonds ranged in scale from $23,000 to $80 million.

With the tax credit bond, the US government pays a tax credit to the bondholder in lieu of the issuer paying interest to the bondholder, and the bondholder can deduct the amount of the tax credit from their total income tax liability.

Contact: Internal Revenue Service, www.irs.gov.

(EIN STAFF: 12/4)