The 2009 Stimulus Bill just passed by Congress provides important benefits to the Renewable Energy Industry.  The bill includes an extension of the current Production Tax Credit (PTC) to December 31, 2012 for wind energy projects and to December 31, 2013 for geothermal, biomass, hyrdopower and certain other renewable energy projects.  The stimulus package also allows certain renewable energy projects to take a 30% Investment Tax Credit (ITC) in lieu of the PTC; the ITC may be taken in the first year in which the the project becomes operational.   For renewable energy companies whose tax appetite does not allow them to utilize the PTC or the ITC, the stimulus bill provides for an outright grant if application is made by September 30, 2011.  Summary of Renewable Energy Provisions Stimulus Package.   Click Here for the actual text of the Stimulus Bill