Wednesday, July 23, 2008

Solar Subsidies: Is Less More?


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clipped from blogs.wsj.com

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.

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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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