TOPIC 'Renewable Energy' on Sep 26, 2008 (CEST)
Does Renewable Energy Have a Chance?
With all the latest controversy and concerns over the bail-out of Wall Street, will green initiatives get shuffled out from U.S. Congressional main line of vision? Well, it hasn’t happened so far. On September 23, the Senate voted to extend a host of tax credits for environmental purposes. They were set to expire at the end of December but now have renewed hope. Now, it’s the House of Representatives turn. Will they vote to extend the green credits as well? And will the President sign the measure into law? If not, alternatives offered in the development for renewable energy plans may be forced to a standstill. The country can’t afford that.
The energy measures equate to $17 billion worth of hope for the future. Solar energy companies were hugely successful in 2006 and 2007. With the help of these green tax credits, renewable energy companies will get a boost they need to continue their search for answers. Many companies have proposals in and are ready to start up new projects as soon as they get the green light from Washington, D.C., that the tax breaks they count on to operate will be continued.
The energy tax credit measure passed the Senate 93-2 and is part of a bigger tax bill, which may bring discussions on other sections that lawmakers can’t agree on. Without a doubt, the helping hand of this bill can put the mortar in between the bricks to solidify the foundation that solar power is resting on. The sooner this measure is passed, the better for all involved.
Renewable energy is an industry whose time is just around the corner. As with all new markets, there is some ebb and flow and time needed to adjust. When all is said and done, renewable energy will be here to stay because the Earth isn’t going to last without some environmental changes by its inhabitants.
Sherry Irvin
on behalf of the
BascoTec Internet Limited
Technologie Park 13
33100 Paderborn
Germany
