New clean renewable energy bond
(NEWCREB)--Any bond issued as part of an issue if: (1) 100 percent of the available project proceeds of such issue are to be used for capital expenditures incurred by governmental bodies, public power providers, or cooperative electric companies for one or more qualified renewable energy facilities; (2) the bond is issued by a qualified issuer; and (3) the issuer designates such bond for purposes of IRC section 54C.
Since then, various legislation has authorized additional types of tax credit bonds, such as qualified forestry conservation bonds, new clean renewable energy bonds
, qualified energy conservation bonds, Midwestern tax credit bonds, and qualified school construction bonds.
The panels are being paid for through $310,000 in Internal Revenue Service Clean Renewable Energy Bonds
and a $560,000 grant from the Massachusetts Technology Collaborative - Renewable Energy Trust.
30,2014, will be reduced by a sequestration rate of 7.2% for issuers of Build America Bonds, Qualified School Construction Bonds, Qualified Zone Academy Bonds, New Clean Renewable Energy Bonds
, and Qualified Energy Conservation Bonds that elected to receive a direct credit subsidy under Sec.
Part II: Increased Allocations of New Clean Renewable Energy Bonds
and Qualified Energy Conservation Bonds
Congress has also allocated $1.6 billion for Clean Renewable Energy Bonds
(CREBs) to help finance construction of renewable energy facilities run by public utilities, electric cooperatives and city, state and tribal governments.
* Clean renewable energy bonds
. The ARRA triples the authorized maximum issuance amount of so-called CREBs (clean renewable energy bonds
) to $2.4 billion from the previous limit of $800 million.
It also uses renewable energy credit sales to Native Energy and the anticipated proceeds from the sale of Clean Renewable Energy Bonds
Additionally, $1.6 billion in new, clean renewable energy bonds
(CREBs) may be issued by qualified issuers (public power providers, cooperative electric companies, etc.) to finance qualified renewable energy facilities.
For nonprofit entities, $1.6 billion of new clean renewable energy bonds
would be authorized to finance facilities that generate electricity from wind, closed-loop biomass, open-loop biomass, geothermal, small irrigation, hydropower, landfill gas, marine renewable, and municipal waste (trash) combustion facilities.
The $2 million project was funded in part by $1.7 million in federal Clean Renewable Energy Bonds
. The project also will receive revenue from the sale of Solar Renewable Energy Certificates.