Section 1603 of the American Recovery and Reinvestment Act of 2009 established a program whereby an eligible person could, in lieu of claiming the production tax credit under Internal Revenue Code Section 45 or the investment tax credit under Code Section 48, apply to the US Treasury Department for a grant with respect to “specified energy property” to provide a reimbursement for a portion of the costs of such property. Treasury has issued long-awaited guidance concerning these grants, which guidance includes three key documents: (i) Program Guidance, (ii) Term and Conditions, and (iii) Sample Application.