Financing public sector projects with clean renewable energy bonds
Contributors: Coughlin, Jason; National Renewable Energy Laboratory (U.S.); United States. Department of Energy. Office of Scientific and Technical Information
Series: Fact sheet series on financing renewable energy projects; NREL/FS -- 6A2-46605; Fact sheet series on financing renewable energy projects; NREL/FS -- 6A2-46605.
Publisher: National Renewable Energy Laboratory, U.S. Dept. of Energy, Office of Energy Efficiency and Renewable Energy; distributed by the Office of Scientific and Technical Information, U.S. Dept. of Energy
Published: 2009
Place of publication: Golden, Colo; Oak Ridge, Tenn
Language: eng
Format: [electronic resource]
Subjects: Electric utilities; Cooperative societies; Tax credits; Renewable energy sources; Government policy; Government securities; Bondholders; National Government; Us Irs; National Renewable Energy Laboratory; Financing; Energy Conservation, Consumption, And Utilization
Description: Clean renewable energy bonds (CREBs) present a low-cost opportunity for public entities to issue bonds to finance renewable energy projects. The federal government lowers the cost of debt by providing a tax credit to the bondholder in lieu of interest payments from the issuer. Because CREBs are theoretically interest free, they may be more attractive than traditional tax-exempt municipal bonds. In February 2009, Congress appropriated a total of $2.4 billion for the "New CREBs" program. No more than one-third of the budget may be allocated to each of the eligible entities: governmental bodies, electric cooperatives, and public power providers. Applications for this round of "New CREBs" were due to the Internal Revenue Service (IRS) on August 4, 2009. There is no indication Congress will extend the CREBs program; thus going forward, only projects that are approved under the 2009 round will be able to issue CREBs. This factsheet explains the CREBs mechanism and provides guidance on procedures related to issuing CREBs.
Notes: Title from title screen (viewed on June 13, 2011).

"This factsheet was written by Claire Kreycik and Jason Coughlin of NREL."

"December 2009."

Published through the Information Bridge: DOE Scientific and Technical Information.

Includes bibliographical references (p. 6).