The $787 billion ARRA enacted on Feb. 17, 2009 provides significant funds (the administration estimates $60 billion) dedicated to “clean energy investments.” Other estimates fluctuate depending on whether tax credit and loan guarantees are included. Through ARRA, the federal government became the world’s single-largest investor in clean technology, potentially doubling the money that was available globally in 2008.
ARRA is complex.Individual agencies receive funds and then decide how grants and contracts are distributed. Fund-seekers must comply with strict application, reporting, implementation and flow-down requirements contained within both general and funding announcement-specific regulatory provisions. The goals of these requirements are to minimize fraud and ensure swift fund distribution.
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