PRESIDENT-elect Barack Obama has vowed to promote clean and renewable energy, reiterating this week that his presidency will mark a new chapter in America's leadership on climate change.
But the nation's power companies suddenly are struggling to turn that promise into reality.
"Funding has stalled," says Ezra Green, chief executive of Clear Skies Solar. The New York company recently cancelled plans to build a one-megawatt solar plant in California's Mojave Desert, unable to get financing even though a California utility agreed to buy all the output.
"We've cancelled the solar-panel order," Mr Green says.
Hobbled by the financial crisis, power companies across the US are slashing capital budgets and cancelling projects for clean electricity. Financing for new nuclear power plants appears shaky. And some energy companies are even having trouble satisfying their short-term needs for cash.
Forging a new energy future by creating vast amounts of wind, solar and, possibly, nuclear energy is one of Mr Obama's highest priorities. But enacting that policy depends to a large degree on the ability of energy companies and utilities to finance the massive new investments that would be needed. With many of those companies cutting spending, a lot of those investments are being pared back or eliminated.
....
Maybe we just need to tax energy companies some more. That will encourage investing in alternative forms of energy, right? ;)
No comments:
Post a Comment
Leave a comment.
Note: Only a member of this blog may post a comment.