New Clean Renewable Energy Bond (NCREB)

New Clean Renewable Energy Bonds, a type of tax credit bond, may be used by governments and the private sector to finance renewable energy projects. NCREBs were first authorized by Congress in October 2005. ARRA increased the NCREB volume cap to $2.4 billion. NCREB allocations which are determined based on qualified applications on the following qualified renewable energy types:

  • Wind
  • Biomass (closed or open loop)
  • Geothermal
  • Solar
  • Small irrigation (hydro) power
  • Landfill gas
  • Trash combustion
  • Hydroelectricity
  • Marine/Hydrokinetic