Thursday, June 14, 2012

Renewed Interest in Renewable Energy


 

The Obama economic stimulus package, which invested so heavily in renewable energy like wind and solar power, is finally having an effect on the green industries.

In a statement to the NY Times the vice-president of Sharp Solar, Ron Kenedi, said that although December, January and February had been “miserable,” things are starting to pick up.

“I call this the green shoots period. We’re seeing new growth,” he said.

Kenedi went to allude to a large-scale, unnamed solar project, which lost its financing late last year. Now, with banks willing to invest “they’ve unstuck their project.”

He also made mention of the stimulus money that will soon be flowing to state governments via conservation-oriented block grants. This should show a marked influence on small-scale solar projects.

However, he added, the industry is still looking for clarity on how a new Treasury grant program (an important stimulus measure for renewable energy that turns tax credits into straight grants) will work. “We are also noting that the financing of projects already slated to go forward is taking extra time to get done,” he said.

Lawyer with Chadbourne & Parke, Keith Martin, stated in an email that a recent call he had conducted with bankers indicated a consensus that the stimulus package is resulting in more activity, if not yet money, in the renewable energy sector.

“There are lots of proposal letters and term sheets circulating,” he said in an e-mail message. “The mood is improving, but it has not translated yet into closing and fresh capital flowing into deals.”

6 comments:

Kris Jr said...

Renewable energy is energy which comes from natural resources such as sunlight, wind, rain, tides, and geothermal heat, which are renewable (naturally replenished).

Kris Jr said...

About 16% of global final energy consumption comes from renewables, with 10% coming from traditional biomass, which is mainly used for heating, and 3.4% from hydroelectricity. New renewables (small hydro, modern biomass, wind, solar, geothermal, and biofuels) accounted for another 3% and are growing very rapidly

Tamara said...

The Sabah government has also been investing on renewable energy such as solar power, geothermal and biomass power generation, we are not the only state who is doing this now.

Tamara said...

When more and more country began to adapt green technology and renewable energy, we can make a positive impact towards to environment.

Anonymous said...

This awareness should be taught to the young kids in their school.

romanzjustin said...

When a great part of america will utilize solar power for homesthen it would really do real help on the environment and I'm sure,most part of the world wouldn't want to be left behind,right?

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