The current TERP Rebate Grant round will end at the end of next March or when they run out of funds, whichever comes first. As of 11/2/09 they had a shade under $16 million left.
It will be interesting to watch the rate the funds are awarded. On the one hand it's free money, but I also wonder if most of the low-hanging fruit has already been picked. That's to say, have most of the people who best fit as applicants, who understand the program and who are willing to buy already filed for what they need? Very wait-and-see.
The Rebate Grants don't saddle heavy equipment owners with a requirement of annual hours of use which sounds pretty appealing given the current economic outlook. They also have a shorter turnaround time to funding.
They also do not match the dollar value if your machines run 2,000 hours each year.
The next ERIG round is supposed to be in February or March of 2010. They normally give applicants a 3-month window to submit then take 2-3 months reviewing. If you wait until signing a Notice to Proceed to take possession of a piece that could mean taking ownership in the last quarter of 2010.
Since the Rebate and ERIG rounds are not running concurrently this time I wonder if they plan to stagger them in the future to spread out the administrative workload and to have some kind of grant round open to applicants most months of the year.
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