Momentum Slows for Alternative Energy. By Clifford Krauss, NYTimes, October 21, 2008. "For all the support that the presidential candidates are expressing for renewable energy, alternative energies like wind and solar are facing big new challenges because of the credit freeze and the plunge in oil and natural gas prices. Shares of alternative energy companies have fallen even more sharply than the rest of the stock market in recent months... 'Everyone is in shock about what the new world is going to be,' said V. John White, executive director of the Center for Energy Efficiency and Renewable Technology [cleanpower.org], a California advocacy group. 'Surely, renewable energy projects and new technologies are at risk because of their capital intensity'... At least two wind energy companies have had to delay projects in recent days because of trouble raising capital. Several corn ethanol projects have been delayed for lack of financing in Iowa and Oklahoma since last month, and one plant operator in Ohio filed for bankruptcy protection last week... Worldwide project financings for new construction of wind, solar, biofuels and other alternative energy projects this year fell to $17.8 billion in the third quarter, from $23.2 billion in the second quarter, according to New Energy Finance, a research firm in London. The slide is expected to be sharper in the fourth quarter and next year."
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