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.

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

New users:

Note: Eligible property under this program includes only property used in a trade or business or held for the production of income. Non business energy property, such as property used for residential purpose, does not qualify under this program.

Further requirements: If your organization falls under any of the below designations, you are not eligible for Section 1603 payments, and should not continue with the application process:

* Federal, State, or local government or any political subdivision, agency, or instrumentality thereof
* Organization described in section 501(c) of the Internal Revenue Code and exempt from tax under section 501(a) of such Code
* Entity referred to in paragraph (4) of section 54(j) of the Internal Revenue Code
* Partnership or pass-thru entity with a government or any political subdivision, agency, or instrumentality thereof, 501(c) organization, or 54(j)(4) entity as a direct or indirect partner (or other direct or indirect holder of an equity or profits interest)
* Foreign person or entity not qualifying for the exception in section 168(h)(2)(B) of the Internal Revenue Code with respect to the property

Instructions: Type your email address in the box below and click Register to set up your user name and password.
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