The financial crisis of 2008/2009 spawned two major stimulus packages in the U.S. that, in combination, have fundamentally reshaped the federal policy landscape for wind power. Most notably, qualifying wind projects can now, for a limited time only, choose either a 30% investment tax credit (ITC) or a 30% cash grant in lieu of the 10-year production tax credit (PTC) that wind has historically received. This presentation analyzes the impact of this newfound choice of federal incentives on wind power development in the U.S., focusing not only on the relative “face value” of the incentives, but also on a handful of ancillary benefits that accompany the ITC and/or cash grant (but not the PTC). Financial analysis of a hypothetical wind project reveals that these ancillary benefits could be worth significantly more than any incremental face value provided by the ITC or cash grant. A review of Treasury grants awarded to date confirms the popularity of the grant program among wind projects. For further information about this seminar please contact Ryan Wiser at (510) 486-5474, or send e-mail to RHWiser@lbl.gov. Visitors from off site who plan to attend and will need gate access and parking arrangements, or who need information about riding the LBNL shuttle bus should contact JoAnne Lambert at (510) 486-4835, or send e-mail to JMLambert@lbl.gov.