The Clean Renewable Energy Bond (CREB) program is a new financial incentive created in the Energy Policy Act of 2005. It is available to municipal utilities and electric cooperatives and is intended to promote renewable energy development.
Federal Policy Descriptions
Double-declining balance, five-year depreciation schedule (I.R.C. Subtitle A, Ch. 1, Subch. B, Part VI, Sec. 168 (1994) (accelerated cost recovery system)) is another federal policy that encourages wind development by allowing the cost of wind equipment to be depreciated faster.
2008 USDA Farm Bill
On May 22, 2008, Congress overrode the President's veto of the Food, Conservation, and Energy Act of 2008 (the "Farm Bill"). The Farm Bill is an investment in our nation's food and farm economy. It will ensure food security and promote healthier foods and local food networks, strengthen international food aid and reform commodity and farm programs, protect our natural resources and promote homegrown renewable energy.
The Value-Added Producer Grant (VAPG) program was first established in the Agriculture Risk Protection Act of 2000 and was later amended in the 2002 Farm Bill. Grant funds are available for planning activities and working capital for marketing value-added agricultural products and for farm-based energy. Independent producers, farmer and rancher cooperatives, agricultural producer groups, and majority-controlled producer-based business ventures are eligible.