Internal Revenue Service Gives Money Away

Entity allocates millions to help finance clean energy projects.
Grit Staff
February 29, 2008
Add to My MSN

Content Tools

The picture flies in the face of popular opinion of a cold-hearted tax man, but the Internal Revenue Service has issued $406 million in Clean Renewable Energy Bonds – bonds that provide holders with a credit against their federal income tax.

In effect, the CREBs provide interest-free financing for certain renewable energy projects – 312 this year. The new allocations range from $15,000 to $30 million for 139 solar energy facilities, 102 wind power installations, 45 landfill gas facilities, 18 hydropower plants, five biomass power plants and three trash combustion facilities. Three of the biomass plants are “closed loop” facilities with dedicated sources of biomass crops.

All the projects will require other forms of financing as well as approval from authorities, so there is no guarantee that all the projects will be built. Most of the projects are located in California and Minnesota, with others in Alaska, Arizona, Colorado, Connecticut, Florida, Illinois, Iowa, Kentucky, Maine, Massachusetts, Michigan, Montana, Nebraska, Nevada, New Jersey, new York, North Dakota, Ohio, Pennsylvania, Rhode Island, South Carolina, Texas, Washington, West Virginia, Wisconsin and Wyoming.

For more information and a list of projects, visit the IRS Web site at,,id=179016,00.html.

Post a comment below.


Pay Now & Save 50% Off the Cover Price

First Name: *
Last Name: *
Address: *
City: *
State/Province: *
Zip/Postal Code:*
(* indicates a required item)
Canadian subs: 1 year, (includes postage & GST). Foreign subs: 1 year, . U.S. funds.
Canadian Subscribers - Click Here
Non US and Canadian Subscribers - Click Here

Live The Good Life with Grit!

For more than 125 years, Grit has helped its readers live more prosperously and happily while emphasizing the importance of community and a rural lifestyle tradition. In each bimonthly issue, Grit includes helpful articles, humorous and inspiring articles, captivating photos, gardening and cooking advice, do-it-yourself projects and the practical reader advice you would expect to find in America’s premier rural lifestyle magazine.

Get your guide to living outside the city limits delivered straight to your mailbox. Subscribe to Grit today!  Simply fill in your information below to receive 1 year (6 issues) of Grit for only $19.95!


At Grit, we have a tradition of respecting the land that sustains rural America. That’s why we want you to save money and trees by subscribing to Grit through our automatic renewal savings plan. By paying now with a credit card, you save an additional $5 and get 6 issues of Grit for only $14.95 (USA only).

Or, Bill Me Later and send me one year of Grit for just $19.95!