Renewable energy advocates push for extension of federal Treasury grant program
The program, which covers up to 30% of the cost of alternative energy projects, delivers the funds to owners about two months after completion. The grant is responsible for more than 1,100 solar sites and more than 200 wind-power efforts across the country, comprising billions of dollars in investment, according to industry officials.
But a proposed one-year extension fell through in Congress over the weekend and is conspicuously absent from the tax deal announced this week.
Without the incentive, the renewable power space is headed for a slim-down, according to officials from trade groups Solar Energy Industries Assn. and American Wind Energy Assn. in a conference call with reporters Wednesday.
-- Tiffany Hsu
Photo: Cylindrical shaped solar cell modules produced by Solyndra Inc. harness energy from the sun atop the company's manufacturing facility in Fremont, Calif. Credit: Ken James/Bloomberg