US Dept of Treasury,Payments for Specified Renewable Energy Property in Lieu of Tax Credits

Payments for Specified Energy Property in Lieu of Tax Credits

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APPLY

The Treasury Department is now accepting applications for this program. To apply go to https://treas1603.nrel.gov/.

GUIDANCE

Posted here are the guidance document pdf icon, terms and conditions pdf icon, and sample application form pdf icon. All applicants should carefully review these documents prior to submitting an application.

ACCOUNTANT’S CERTIFICATION

The independent accountants’ requirements for the examination opinion attesting to the accuracy of costs (Attachment A) have been revised. We have added clarifying language that requires accountants to attest to the accuracy of costs on a test basis. Statements have been added regarding management’s and the practitioner’s responsibilities and we have added a “Report of Management on Eligible Cost Basis”.

Attachment B, Agreed-upon Procedures (AUPs), has been revised. If you have questions on the AUPs, please send them to 1603Questions@do.treas.gov

For properties placed in service having a cost basis in excess of $500,000, applicants must submit an Accountant’s Certification pdf icon.

ASSIGNMENT OF PAYMENTS

For information on assigning payments received under this program to a financial institution click on the following links:

* Assignment Information pdf icon
* Notice of Assignment pdf icon

IMPORTANT REMINDER

Applicants must be registered with the Central Contractor Registration (CCR). To register, go to www.ccr.gov/startregistration.aspx. This registration must be completed before a payment can be made.

Thank you for your interest in this program.

Questions. Please e-mail any questions you may have to 1603Questions@do.treas.gov. Please note that the purpose of the 1603 mailbox is to answer questions regarding how to apply for the 1603 program. This includes: how to submit an application, assign a payment, and prepare the independent accountant’s report. We also answer general questions regarding applicant and property eligibility. We cannot, however, answer questions that are more appropriately answered by tax accountants, lawyers and the Internal Revenue Service. This includes questions regarding what can and cannot be included in cost basis and whether or not certain business structures meet eligibility requirements. Also, we cannot confirm eligibility for specific projects.

If you have already applied for the Section 1603 payment and have questions on your application, or need technical support to up-load documents, change your password, or seek confirmation of additional up-loaded documents, please address those questions to: treas1603@nrel.gov.