Today 88 members of the U.S. House of Representatives called for an extension of the successful 1603 Treasury Grant Program supporting renewable energy projects, urging in a letter to House leaders that such an extension will continue a proven track record of job creation and promote further growth in domestic clean energy industries.
Created in 2009, the 1603 program has provided essential financing for clean energy projects via grants in lieu of investment tax credits, and has created tens of thousands of jobs by leveraging more than $22.8 billion in private financing to support 22,000 renewable energy projects in all 50 states. Signatories of the letter – led by Reps. Earl Blumenauer (D-OR), Rush Holt (D-NJ), Paul Tonko (D-NY), Mike Thompson (D-CA), and backed by the House Sustainable Energy Environment Coalition (SEEC) – argue that a failure to extend the 1603 program beyond its current December 31 expiration date would have significant adverse effects on American clean energy industries; shrinking the total financing available for renewable energy projects by 52 percent in 2012, and eliminating tens of thousands of jobs.
“The 1603 Treasury Grant Program is a job creator and economic stimulator,” said Rep. Thompson. “It has created
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