Business Green: The US Treasury and Department of Energy formally launched a flagship renewable energy funding programme on Friday, announcing that project developers could now apply for direct payments from a new fund worth over $3bn (£1.8bn). Under the scheme – which is expected to see funds distributed to around 5,000 biomass, solar, wind and other types of renewable energy projects – firms can agree to forgo existing tax credits in return for a direct payment from the government. Treasury …