If the faces of renewable energy critics are not red yet, they soon will be. For years, these critics — of solar photovoltaics in particular — have called renewable energy a boutique fantasy. A recent Wall Street Journal blog post continues the trend, asserting that solar subsidies take money from the poor to benefit the rich. But solar-generated electricity is turning into a powerful environmental and economic success story.
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In February's PHOTON International, SEIA president and CEO Rhone Resch writes about the solar Investment Tax Credit and smart public policies in the face of tax reform.
Illinois Rural Electric Cooperative held a ribbon cutting for its new 500 kilowatt solar facility which is located south of Winchester on Illinois Route 106, next to one of the substations that serves the cooperative’s 7,800 members. The installation is the first utility-scale photovoltaic solar energy system by a cooperative in Illinois.
While Americans know wind and solar energy are clean, they often aren’t aware of the economic success story behind these renewable-energy technologies. Wind and solar power have economic benefits that reach far and wide. They have become increasingly affordable, attracting billions in private development, and today are both mainstream and reliable energy sources across America.
Calling it “a huge step backward,” Rhone Resch, president and CEO of the Solar Energy Industries Association (SEIA), said President Obama’s 2015 fiscal year budget, which was unveiled today, would severely damage the U.S. solar industry by eliminating the Investment Tax Credit (ITC) and replacing it with a refundable Production Tax Credit (PTC) at the end of 2016.
Solar power will be the second- biggest source of generating capacity added to the U.S. electric grid this year, according to Sharp Corp. (6753)’s Recurrent Energy unit.
The News & Observer
If the General Assembly wants to establish itself as the most business unfriendly, anti-jobs and anti-growth legislature in the nation, it will pass the recently filed bill oxymoronically titled the “Affordable and Reliable Energy Act.”
Solar panel installations in the U.S. grew 76 percent in 2012 as the cost of panels and the surrounding equipment continued to fall, according to an annual report by a solar trade group.
U.S. solar panel installations grew 76 percent in 2012 to 3.3 gigawatts, representing a tenth of the global market, led by large-scale projects in the desert southwest, according to the Solar Energy Industries Association.
Partly driven by an oversupply of cheaper panels from China, the domestic solar market had its best year in 2012, with the growth in installations outpacing that of the global market, according to an annual report to be released Thursday.