http://www.bloomberg.com/news/2010-11-04/solar-wind-companies-predict-projects-will-slow-if-u-s-eliminates-grants.html
Solar, wind, geothermal and biomass power companies predict a slowdown in renewable-energy projects if Congress fails to extend a U.S. grant program during its post-election session.
The American Wind Energy Association, the Solar Energy Industries Association, the Biomass Power Association and the Geothermal Energy Association sent letters on Nov. 2 to lawmakers, pressing to extend the program that expires next month. The groups are acting before Republicans take control of the House next year after campaigning on a pledge to lower the federal deficit.
The industry organizations said the credits, which are part of the stimulus package, saved or created tens of thousands of U.S. jobs. White House officials said in an Oct. 25 memo that the grants had been “much more effective in promoting renewable energy” than a program to provide renewable projects with federal loan guarantees.
Letting the grants expire will lead to a “significant slowdown in the renewable-energy industries, resulting in the loss of jobs and further transfer of clean-energy leadership to other countries,” the groups wrote to congressional leaders.
Legislation to extend the grants has been introduced in Congress and may be tied to the debate over extending tax breaks enacted during the Bush administration, which are to end this year.
The Treasury Department has awarded more than $5.4 billion to 1,387 renewable-energy projects. The program lets solar, wind and renewable projects that would be eligible for production and investment tax credits instead seek a one-time grant from the Treasury covering 30 percent of costs.
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