Interesting article from the NY Times about the renewable energy sector development.
JUST a few years ago, the future of renewable energy looked as bright and shiny as a white turbine blade coming out of the mold. The federal government was handing out money under the stimulus package, states were approving clean energy mandates, young companies were racing ahead with promising new technologies and big global developers were planting stakes for ambitious, utility-scale projects.
Now that picture has dimmed. The low price of natural gas has made renewable power less appealing to utilities and energy companies. The high price of gasoline — which has become an issue in the presidential campaign, as Republican candidates seek to use it against President Obama, has renewed calls to increase oil exploration and production at the expense of alternatives. State lawmakers are reconsidering requirements for utilities to buy green power. Surprisingly fierce competition from Chinese photovoltaic manufacturers has driven American ventures to the brink of bankruptcy and beyond.
And the problems of Solyndra, a would-be solar panel maker that collapsed despite receiving a $535 million federal loan guarantee, have given subsidies for green energy a bad name, which in turn has weakened interest from the private sector in financing it. A tax grant program important to the solar industry has already expired, while a tax credit favored by the wind industry is scheduled to end this year.
