ABSTRACT
This chapter reviews some of the key pieces of recent legislation that have had a significant effect on how renewable energy projects are structured. Legislation continues to be a significant driver for change in the energy industry. The grant programs for smart grid and renewable energy outlined in the American Recovery and Reinvestment Act have been initiated, and companies are looking to take advantage of the programs. The original Energy Policy Act was passed by Congress on October 24, 1992, with the goal of enhancing our nation’s energy security and improving environmental quality. Traditional lenders including leasing companies were able to very effectively monetize the tax attributes created under the Act and pass the utilization of the tax attributes through to borrowers/debtors in the form of lower payments. The Act also extends through December 31, 2009 the alternative fuel credit and the alternative fuel mixture credit.
