The Renewable Electricity Production Tax Credit allows producers of qualifying renewable electricity to receive a per kilowatt hour tax credit.  The credit period is 10 years after the facility is placed into production.   Generally, the owner of the facility is allowed the credit. In the case of closed-loop biomass facilities modified to co-fire with coal, other biomass, or both, and open-loop biomass facilities, if the owner is not the producer of the electricity, the lessee or the operator of the facility is eligible for the credit.

Additional information, definitions and details can be found in U.S. Code 26 USC § 45 and in the IRS tax form 8835.  

Note:  The American Recovery and Reinvestment Act allows those eligible for the Renewable Electricity Production Tax Credit to instead opt for the Business Energy Investment Tax Credit or receive Department of Treasury Renewable Energy Grants.  Grants from the Treasury Department are only available to systems in which construction began before December 31, 2010.