CITIZEN POWER ALLIANCE

No taxes on smart-grid grants

Projects to upgrade the nation’s electric system recently got a boost from the Internal Revenue Service, which ruled that corporations won’t have to pay taxes on Smart Grid Investment Grants.

The economic stimulus bill provided $3.4 billion for the program, which will help businesses, utilities and local governments adopt technologies that will save energy, increase efficiency and foster the growth of renewable energy sources such as wind and solar. The IRS decision will enable the U.S. Department of Energy to complete grant agreements with businesses, according to the department.

“This is an important step toward reaching the administration’s goal of a more reliable and efficient electrical grid,” said Matt Rogers, senior adviser to Secretary of Energy Steven Chu. “As these projects move forward, they will create thousands of new jobs and bring smart-grid technologies to communities around the nation.”

Clean-energy firms got $5B from stimulus

Small businesses in the clean energy and environmental management sectors have received nearly $5.4 billion in funding so far from the federal economic stimulus bill.

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