Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Obama’s Budget Would Extend Treasury Grants for Wind, Solar

Feb. 13 (Bloomberg) -- President Barack Obama’s proposed budget would renew and extend a subsidy for renewable-energy projects that helps pay for as much as 30 percent of development costs, according to a solar lobbying group.

The 2013 budget released today would restore U.S. Treasury Department grants that expired in December, a benefit that may add as many as 37,000 solar jobs, Rhone Resch, president of the Solar Energy Industries Association, said in a statement today.

The grants, known as the 1603 program, were enacted in 2009 to encourage investors to back renewable-energy projects. It’s helped develop more than $24 billion worth of renewable energy resources, the Washington-based lobbying group said.

To contact the reporter on this story: Christopher Martin in New York at cmartin11@bloomberg.net.

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.