WASHINGTON A government-funded study attempts to sort out the funding mechanisms to be used in distributing economic stimulus funds for renewable energy projects.
The report, "PTC, ITC, or Cash Grant? An Analysis of the Choice Facing Renewable Power Projects in the United States," was compiled by analysts at Lawrence Berkeley National Laboratory and the National Renewable Energy Laboratory.
It examines three funding options: production tax credits, investment tax credits and cash grants.
The report authors said it analyzes the best approach for funding renewable energy projects like wind, biomass and geothermal.
The Energy Department, which funded the study, is scrambling to develop procedures for distributing $43 billion in economic stimulus funds.
Energy Secretary Steven Chu told a House panel this week that in some cases agency officials are working to staff new renewable efforts while at the same time developing industry solicitations for new energy projects.