Wind Power Companies Could get some Green
Today is the big day – will Congress’s vote on the economic stimulus package give wind power companies additional funds and tax incentives? At issue is about $50 billion of the $789 billion proposal, which is rumored to be dedicated for renewable energy projects, R&D and green job training. President Obama hopes to address two very pressing issues with items in the bill considered in Washington: (1) climate change; and (2) the struggling economy. Investing in green technologies including wind, solar, geothermal and biomass is intended to create jobs, stimulate growth and – over time – slow global warming.
So, what exactly is being considered?
1) Government investment in renewable energy projects, through extended and additional tax credits and other incentives.
2) Loan guarantees for private companies, individuals and financial institutions that invest in green projects, minimizing their risk and re-starting the flow of capital.
3) Grant programs that provide much needed start-up money for wind farms and other alternative energy projects. These funds will literally get the projects off the ground, where tax credits and incentives cannot.
4) Funds for employee training for green jobs – whether laborers, engineers, technicians, or maintenance.
Wind power companies will be lining up soon!
Many people are expecting wind power companies to score big with the stimulus package. Wind is an easier sell in some respects than solar, because the price per watt generated tends to be lower. On the other hand, solar can be integrated more easily into existing buildings and in urban settings. Wind power has been crossing rural lines into urban areas recently, but still has to clear hurdles regarding aesthetics, noise and potential bird impacts.
Money for research and development of new technologies, upgrading the grid, and raising renewable energy costs to at least grid-parity (same or better cost per watt than coal-based electricity) will continue advancements to benefit wind power companies and other alternative energy projects.
There is plenty of wind energy to provide power for our nation’s needs. I’m waiting on the edge of my seat to hear the results of Congress’s vote.
Hopefully, the outcome of the stimulus package will be a breath of much needed, fresh air.
September 29th, 2009 at 12:08 pm
In my opinion clean energy is long overdue in the world, and the US should proced as quickly as possible in the pesuit of all forms of clean energy.Alot of talk is about the affect of clean energy on the enviroment. Im wondering if everyone understands what clean means ?? We must make the move now, and not let huge oil companies stall the progress because of their greed.