This afternoon President Barack Obama signed the $787 billion economic stimulus bill at the solar panel equipped Denver Museum of Nature & Science.

The clean energy industry will benefit significantly from the stimulus bill with a portion of $43 billion set aside for energy as well as some of the $111 billion that is going towards science and infrastructure.

Among the relevant monies clean energy will benefit from are: clean power grants, renewable energy tax credits, renewable energy manufacturing, transmission lines, smart grid, green homes and small wind, solar and geothermal power.

Clean power grants will be awarded to clean energy developers that cover up to 30 percent of the cost of projects.

Renewable energy tax credits have been extended through to 2012 for wind energy, geothermal, hydro power and biomass production.

Renewable energy manufacturing facilities can now enjoy a tax credit of up to $2 billion if they produce components used in the renewable energy industry like parts for wind turbines or solar panels.

Transmission lines and grid improvement will be bolstered and expanded through $2 billion in stimulus money and another $6.5 billion in low-interest loans.

The electric grid will be improved and made “smarter” through $4.4 billion that will go to adding hardware and software that will allow the grid to work as a 2-way digital network.

With $2 billion to be spread out over 10 years greener homes will become more common through the provision of tax credits towards improving energy efficient appliances and insulation.

Home wind turbines, solar panels and geothermal will be subsidized with $872 million in tax credits over 10 years.

Hopefully this stimulus bill will not only help the economy to recover but, ideally, provide a long-term and reliable boost to the renewable energy industry.