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past, uncertain legislative environment. The ARRA alsoextended the Investment Tax Credit (ITC), and expandedits use to wind projects as an alternative to the PTC. Katzforecasted that due to current credit shortages, the ITC/PTC choice will boil down to the option that requires lesscapital on day one.Other factors affecting renewable energy financeand economics include bonus depreciation,cash grant, and manufacturing tax credits.The American Recovery and Reinvestment Act alsoextends the 2008 Stimulus Act which grants developers50% of the Bonus Depreciation upon implementation onprojects completed before the end of 2009, with theremainder of the depreciation written off on the normalschedule. A new stimulus package option is the CashGrant program, where the government essentially buys adeveloper’s investment tax credit of 30% of the totalproject cost, another mechanism to decrease the up-frontcapital necessary to develop projects. Lastly, a new 30%Manufacturing Investment Tax Credit is now available forprojects that re-equip or expand manufacturing facilities tofacilitate the production of renewable energy, energy efficiencyand fuel cell technologies.The Department of Energy’s role in scaling uprenewable energyThe Department of Energy is expected to assume a muchlarger role in the renewable energy project implementationprocess, by granting increased funding with an emphasison the Loan Guarantee Program. The program, with $60million in new credit set aside for clean energy projects, isdesigned to catalyze the commercialization of innovativecarbon-reducing technologies. While funding was slow tomove out the DOE’s door in the past, the success of theprogram hinges on efficient implementation. At RETECH2009, Wendolyn Holland, of the Energy Efficiency/Renewable Energy (EERE) Administration, spoke on thehistory of the Department of Energy and its approach tothe coming stimulus effort:“The DOE began with the Manhattan Project and spendsmuch of its time looking over the nuclear arsenal. Soadministering the new stimulus programs is a bit of acultural challenge for the organization,” said Holland.“Secretary Chu wants to focus on management within theagency, cutting down on people doubling up on the samework. With $4 billion for the Smart Grid, and much forweatherization and state & local energy grants, the DOE isexcited to begin work.”State-Level EconomicDevelopmentWhile national policies take shape, leaders fromthe state level convened to discuss theapproaches they’ve taken to building up theirrenewable energy markets.New York: Facilitating a Diverse Portfolio ofRenewable ResourcesDon LaVada, Director of the New York State EnergyResearch and Development Authority (NYSERDA), spokeabout the agency’s approach to helping the state’srenewable energy industry. “The old jobs are gone”, saidLaVada, “and they’re not coming back. But new jobs arecoming in.”NYSERDA is focused on improving on the mistakes andshortcomings of the last renewable energy boom in the1970s. By re-orienting the state’s shrinking manufacturingand maintenance base toward a renewable energyorientedfocus, the government can be a facilitator ofrenewable energy.The old jobs are gone and they’re notcoming back. But new [green] jobs arecoming in.– Don LaVada, Director of Consumer Services and EventsManagement, NYSERDANYSERDA currently sponsors a technician certificationprogram and an International Brotherhood of ElectricWorkers (IBEW) training program. Another of the agency’sdistinguishing traits is its diverse orientation, mirroring astate of many cultures and landscapes. Maintaining thisdiversity by seeing all types of technologies to successNYSERDA’s goal.Oregon: Job Creation in a Zero Sales TaxEnvironmentIn Oregon, the Office of the Governor is working towardgreen job creation. In a state without a sales tax, incometax is everything. “Losing jobs is losing money”, explainsNancy Hamilton, a senior policy advisor to Governor TedKulongoski. The national economy’s struggles are magnifiedin a state that has already lost a great deal in thelogging industries.American Council On Renewable EnergyExecutive Summary Report 45