Through the American Recovery and Reinvestment Act, the U.S. Department of the Treasury and the U.S. Department of Energy announced at the end of July that they would be accepting applications for a program that will make direct payments in lieu of tax credits to companies that create and place in service renewable energy facilities. With the goal of creating new jobs, the two Departments estimated distributing at least $3 billion in financial support to approximately 5,000 bio-mass, solar, wind, and other types of renewable energy production facilities.

“As we move quickly to get our economy back on track and to repair the financial system, we must make investments that lay the foundation for a stronger economic future,” said Treasury Secretary Timothy Geithner. “Too many renewable energy projects have stalled due to a lack of financing. The Recovery Act program will lead to investment in our long-term energy needs, moves us towards energy independence, increase jobs at energy-specific businesses, and protect our environment.”

"This program will play a major role in encouraging private sector capital to invest in clean energy development, creating new jobs that can't be outsourced. It is an investment that will continue to help our economy grow and ensure advancement in clean and renewable energy development," said Energy Secretary Steven Chu.

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