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Green Wombat - FORTUNE Magazine First U.S. solar power plant factory goes online « (http://greenwombat.blogs.fortune.cnn.com/2008/06/30/first-us-solar-power-plant-factory-goes-online/ - broken link)
Quote:
However, the future of those jobs – and billions in future investments in renewable energy - hangs on whether Congress extends a crucial investment tax credit that the solar industry and utilities are relying on to make large-scale solar power plants competitive with the carbon-spewing variety. The investment tax credit expires at the end of the year and several attempts to pass legislation extending the ITC have failed despite support on both sides of the aisle.
I'm I being overly naive or too simplistic in thinking that, umm, take away any tax credits now afforded to non-renewable fossil fuel industries (i.e.- big oil) and provide them to clean renewable technologies like this?
Considering that a couple of the major gasoline companies are investing in alternate fuel sources, you would think that there would be enough lobbying for this.
You don't know how "hard" it is arguing with people about NO drilling, NO nuclear power, NO biofuels... I seem to be the lone voice among the other forums when talking about this stuff... They ask me for alternatives and I say "solar power" and they say its not ready yet, I say, if we don't invest in it, it will be decades before it is ready... if we invest now, it will be only a few years before its ready... they rather focus on the short term than the natural evolution of energy..
The Germans are so far ahead of us on solar, and their climate doesn't seem to be as well suited as the majority of the U.S.
I envision that eventually we'll be buying German technology to provide solar alternatives on micro economic scales. If Germany could do it, I'd venture to say the NE states could do it as well.
Geez- wait until the NE folks get their oil bills for heating this year.. Man will THAT be a call to action!
Green Wombat - FORTUNE Magazine First U.S. solar power plant factory goes online « (http://greenwombat.blogs.fortune.cnn.com/2008/06/30/first-us-solar-power-plant-factory-goes-online/ - broken link)
I'm I being overly naive or too simplistic in thinking that, umm, take away any tax credits now afforded to non-renewable fossil fuel industries (i.e.- big oil) and provide them to clean renewable technologies like this?
What's the problem here?
Just understand that the ITC is going away for everyone. If you only want to reinstate it for certain industries you will effectively cut off capital spending for future needs for oil and gas. All of your eggs will be in one basket. If solar, wind, burning crops, etc. can not deliver be ready to live with the consequences.
One of the consequences would be to put our country in a greater dependence on foreign oil while we are trying to build up other energy sources. That is an outcome that I do not believe congress is willing to bet on. The public opinion has shifted dramatically to pro exploration and drilling.
Your talking about a mature industry that has capital to deploy for exploration vs. an industry that is, for all intents and purposes, in the development phase.
It wouldn't adversely impact petroleum exploration and development, only augment R&D capacity for renewables.
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