As expected, on July 31, 2009, the Treasury Department announced that it is accepting applications for grant payments in lieu of tax credits for certain renewable energy projects as authorized by Section 1603 of the American Recovery and Reinvestment Tax Act of 2009. The application process can be accessed through this link. The National Renewable Energy Laboratory is providing technical assistance regarding the applications on behalf of the Treasury Department. The Treasury Department previously released guidance regarding the program which is available here. In addition, the Treasury website also now contains additional documentation such as a sample format for the Accountant’s Certification required for projects with a cost basis of more than $500,000, and documentation for the assignment of payments to a financial institution.