Obama pushes for wind power tax credit
Washington (UPI) May 25, 2012
U.S. President Barack Obama urged Congress to extend the tax benefits
key to the nation's wind power sector.
Speaking Thursday in Newton, Iowa, from a manufacturing facility for
TPI Composites, a global provider of wind turbine blades, Obama said:
"If Congress doesn't act, companies like this one will take a hit. Jobs
will be lost. That's not a guess. That's a fact."
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ReplyDeleteOpponents declare that by using RECs a customer can claim energy “reduction” even if they do not actually reduce their end-use at all - or even increase it. Proponents counter that more REC purchases drive increased production of renewable power which can replace conventional production.
Despite this growing demand and support for renewable energy, a fragile economy, volatile commodity pricing, and the lack of national energy policy have combined to pave a challenging road for renewable energy advocates and stakeholders. Economies of scale and new manufacturing processes are making alternative energy production more competitive, but until it achieves parity through innovation or regulatory policy, the success of green energy companies may largely depend on their ability to optimize Green Energy and Cleantech tax incentives to attract investors and maintain sustainable balance sheets.