Thursday, September 3, 2009

We should all be in the solar and wind business

"The Obama administration split a half-billion "recovery" dollars among nine U.S. windmill operators and a couple of solar-power projects yesterday, and said it has lots more where that came from."

So reports Philadelphia Inquirer business writer Joseph N. DiStefano, one
of a group of reporters on
a conference call with Matt Rogers of the U.S. Energy Department who said:
"We're moving the money out the door."

"There is no cap to this program. As long as they're making applications, we'll be making awards" for the next two years, added Dan Tangherlini of the U.S. Treasury Department.

When DiStefano asked if there were limits on what windmill operators and solar farmers could do with the money. Tangherlini said no. As long as the project qualifies as renewable energy, windmill owners can use tax dollars to pay back lenders, pay themselves a bonus, or even build more windmills, if they want.

The government says this is necessary to stiffen the usual tax credits that windmills enjoy, which aren't worth so much these days, since business is slow and tax payments are falling, DiStefano wrote.

His entire piece (it's not long) can be viewed here.


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