Wednesday, July 23, 2008

Solar Subsidies: Is Less More?

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The U.S. renewable-energy industry says letting the current clean-energy tax credits lapse will cripple the industry and kill hundreds of thousands of jobs. Even foreign clean-tech types like Vestas, the big Danish wind turbine maker, bemoan America’s short-term approach. Al Gore’s call for an “energy revolution” would require big and lasting support for clean energy that isn’t there yet.


But guess what? While Europe’s flirtation with smaller solar-power subsidies is spooking the sector, the impending demise of subsidies for solar power in the U.S. is driving a last-minute stampede. The subsidies’ renewal is still on Congress’ wish list after several failed shots at renewal.

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