Stimulus Killing Renewable Energy Industry

Gerrit Lansing / July 08, 2009

Today’s Wall Street Journal reports that investment in renewable energies, and the green jobs that go with it, is being stifled by the stimulus.

How? No one knows where, when, or if the stimulus money from Washington will arrive, sowing uncertainty among investors and businesses alike:

New incentive programs haven’t yet been defined, and uncertainty about program rules has deterred investors from backing companies that also may get government money. At the same time, companies are holding off from accepting private capital because of the possibility of getting it more cheaply from the government.

“It artificially slowed the recovery,” Matt Cheney, chief executive of Renewable Ventures, the U.S. subsidiary of Fotowatio SL, a Spanish developer of renewable-energy projects, said of the stimulus plan. (more…)