Earth Equity News

Wind Power Wanes with Fading Federal Incentives. By Jeff Brady, NPR, September 6, 2010. "Wind power, one of the largest segments of the renewable energy market, will experience a sharp decline in growth this year. The slowdown comes as a surprise because the stimulus bill, which President Obama signed into law 18 months ago, included a big boost for renewable forms of electricity in the form of $43 billion for energy projects. Last year, 10,000 megawatts of wind power were brought online in the United States -- that's enough to power nearly 300,000 homes. In 2010, the U.S. Energy Information Administration estimates, that number will be 57% lower. It will be the first time in six years that the growth rate of the wind industry will actually decline... Right now, if you build a wind project, the government will, essentially, cut you a check for 30% of the cost. But that incentive is running out of rope and scheduled to expire at the end of 2010. That deadline prompted a lot of activity lastyear. 'Everybody moved their projects forward into 2009 to take advantage of it,' says George Sterzinger, executive director of the Renewable Energy Policy Project. But now, he says, some developers are waiting to see if the credit will be extended. And with natural gas relatively cheap now, some utilities are choosing to build gas power plants rather than wind farms."