Stroock Special Bulletin
“The American Recovery and Reinvestment Act of 2009: An Overview of its Renewable Energy and Energy Efficiency Provisions”
On February 17, 2009, President Obama signed into law the American Recovery and Reinvestment Act of 2009 (the “Act”), a $787 billion stimulus package intended to spur growth and job creation in the U.S. economy. In total, the Act contains almost $90 billion in new direct spending and tax breaks from the federal government and funding for state and local programs to promote energy efficiency in the building and transportation sectors, renewable energy development, and new transmission infrastructure. This Stroock Special Bulletin provides a brief overview of the key provisions in the Act that encourage energy efficiency and growth in the renewable energy sector.