KEY FACTS: Federal Economic Stimulus
On Tuesday, February 17, 2009, President Obama signed into law the $789.5 billion "American Recovery and Reinvestment Act," which includes the nation's largest investment to date in clean energy, energy efficiency and green jobs. More than $80 billion in spending will go toward renewable domestic energy, a better grid to transmit electricity, energy research, and programs to reduce fossil fuels, such as weatherizing homes and federal buildings.
North Carolina is expected to receive approximately $6.1 billion in stimulus funds, plus $1.7 billion in tax cuts for working families and additional competitive grants that may be awarded. Click here to see a detailed list of how the $6.1 billion will be distributed in North Carolina. The Governor's office has also identified almost $1.6 billion in grants that are coming to North Carolina, for an overall total of nearly $7.7 billion so far.
JOB CREATION
The stimulus package is expected to create or save 3.5 million jobs across the country over the next two years, including 105,000 in North Carolina. Click here to see estimated job numbers for North Carolina's congressional districts (see pg. 8).
STIMULUS TRACKING SYSTEMS
Gov. Bev Perdue launched www.NCRecovery.gov, a guide to services of the newly created Office of Economic Recovery & Investment. This website will let visitors track federal economic recovery funds in North Carolina, as well as learn about local contract and grant opportunities. After signing the legislation into law, President Obama launched www.recovery.gov, which will provide detailed information on how the funds are being distributed by all appropriate federal agencies to states across the nation.
STIMULUS GRANTS & LOAN PROGRAM OPPORTUNITIES
The American Recovery and Reinvestment Act provides $32.6 billion to the Department of Energy. More than half of those funds will advance renewable energy and energy efficiency programs.
Would you like to apply for some of these funds? NCSEA has compiled information and helpful links to energy-related grants, loan programs and other federal funding sources to make it easier for you to find these opportunities. Click here for NCSEA's Grants webpage.
'1603' GRANT PROGRAM UPDATE
The US Department of the Treasury and Energy will provide an estimated $3 billion for the development of renewable energy projects across the nation and are currently offering guidance businesses will need to submit a successful application. Established under Section 1603 of the American Recovery and Reinvestment (Recovery Act), this program gives owners of many types of renewable energy facilities the ability to offset project costs through a 30% grant (10% in the case of certain types of energy property) instead of energy tax credit under Internal Revenue Code Sections 45 & 48. The Recovery Act authorized Treasury to make direct payments to companies that create and place in service renewable energy facilities beginning January 1, 2009. Click here for more information concerning the '1603' grant program, including the terms and conditions, a 20-page guidance document, and a sample application, or to submit your application.
NC's STATE ENERGY PLAN APPROVED BY FEDS
The US Dept. of Energy has approved NC's $75.9 million Energy Plan to improve energy efficiency, promote greater use of renewable energy resources, and create more green jobs. The program will be funded through the state's share of federal American Recovery & Reinvestment Act funds. Click here for more information.
STATE ENERGY OFFICE WORKSHOPS & WEBINAR - MATERIALS NOW ONLINE
The North Carolina State Energy Office recently conducted 8 free workshops across the state and an interactive online webcast workshop to help local government and public school officials gain access to more than $58.3 million in federal Recovery Act funds to create jobs and conserve energy. They also conducted an interactive webcast workshop. If you weren't able to participate, visit the SEO's website to access powerpoint presentations, sample energy plans, audit checklist, and other helpful materials.
STIMULUS WEATHERIZATION FUNDS: 5 CLASSES REQUIRED
Contractors and subcontractors hoping to qualify for work weatherizing homes as part of the federal stimulus funds will have to take five energy-efficiency-related courses throughout the next year. The US Dept. of Energy recently awarded $52.78 million to NC for its weatherization assistance program and will later receive an additional $65 million, for a total of more than $131 million. These funds will weatherize more than 23,500 homes across NC. Click here for more information.
ENERGY EFFICIENCY & CONSERVATION BLOCK GRANTS
The Energy Efficiency and Conservation Block Grants (EECBG) Program, funded for the first time by the American Recovery and Reinvestment Act (ARRA), represents a Presidential priority to deploy the cheapest, cleanest, and most reliable energy technologies we have - energy efficiency and conservation - across the country.
EECBG has launched a new website, Solution Center - Eligible Activities, which is designed as a resource for individuals looking for information on energy efficiency and renewable energy. It includes energy savings information tailored to local and state governments and Indian tribes. Information is arranged by eligible activity, and includes a definition of each as well as related best practices, samples of completed projects that can be used as a reference for your own energy efficiency projects, and links to related project resources. Click here to go to this new website.
SMART GRID FUNDS
The federal stimulus plan includes $3.375 billion in smart grid technology development grants and an additional $615 million for smart grid storage, monitoring and technology viability. These funds, which will modernize the nation's electrical distribution system, will greatly impact North Carolina's researchers, consultants, manufacturers and utilities who have made our state a center for developing a "smart grid."
On Thursday, April 16, Vice President Biden and Commerce Secretary Gary Locke detailed plans by the US Department of Energy to develop a smart, strong and secure electrical grid, which will create new jobs and help deliver reliable power more effectively with less impact on the environment to customers across the nation. Click here for more information.
As part of this announcement, the DOE released a Notice of Intent (NOI) for the DOE Smart Grid Investment Grant Program, as well as a draft Funding Opportunity Announcement from the Department for a smart grid regional demonstration initiative. The grant program will provide grants ranging from $500,000 to $20 million for smart grid technology deployments. It will also provide grants of $100,000 to $5 million for the deployment of grid monitoring devices. This program provides matching grants of up to 50% for investments planned by electric utilities and other entities to deploy smart grid technologies. The first application deadline is July 29, 2009.
ADDITIONAL RESOURCES
Click here to view a summary of all issue areas included in the stimulus bill (NCSL). And, click here for a full summary released by US House Speaker Nancy Pelosi.
Click here for Initial Implementing Guidance for Federal Agencies for Implementing the stimulus bill (White House).
