property unless such property is placed in service after 2016. (b) Grant Amount (1) In general The amount of the grant under subsection (a) with respect to any specified energy property shall be the applicable percentage of the basis of such property. (2) Applicable percentage For purposes of paragraph (1), the term applicable percentage means— (A) 30 percent in the case of any property described in paragraphs (1) through (4) of subsection (d), and (B) 10 percent in the case of any other property. (3) Limitations In the case of property described in paragraph (1), (2), (3), (6), or (7) of subsection (d), the amount of any grant under this section with respect to such property shall not exceed the limitation described in section 48(a)(5)(E), 48(a)(6), 48(c)(1)(B), 48(c)(2)(B), or 48(c)(3)(B) of the Internal Revenue Code of 1986, respectively, with respect to such property. (c) Time for Payment of Grant The Secretary of the Treasury shall make payment of any grant under subsection (a) during the 60-day period beginning on the later of— (1) the date of the application for such grant, or (2) the date the specified energy property for which the grant is being made is placed in service. (d) Specified Energy Property For purposes of this section, the term specified energy property means any of the following: (1) Qualified facilities Any qualified property (as defined in section 48(a)(5)(D) of the Internal Revenue Code of 1986) which is part of a qualified facility (within the meaning of section 45 of such Code) described in paragraph (1), (4), (6), (7), (9), or (11) of section 45(d) of such Code. (2) Qualified fuel cell property Any qualified fuel cell property (as defined in section 48(c)(1) of such Code). (3) Solar property Any property described in clause (i) or (ii) of section 48(a)(3)(A) of such Code. (4) Qualified small wind energy property Any qualified small wind energy property (as defined in section 48(c)(4) of such Code). (5) Geothermal property Any property described in clause (iii) of section 48(a)(3)(A)