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POPS A Gold Rush of Subsidies in Clean Energy Search
States like California sweetened the pot by offering their own tax breaks and by approving long-term power-purchase contracts that, while promoting clean energy, will also require ratepayers to pay billions of dollars more for electricity for as long as two decades. The federal loan guarantee program expired on Sept. 30. The Treasury grant program is scheduled to expire at the end of December, although the energy industry is lobbying Congress to extend it. But other subsidies will remain. The windfall for the industry over the last three years raises questions of whether the Obama administration and state governments went too far in their support of solar and wind power projects, some of which would have been built anyway, according to the companies involved. When the Obama administration and Congress expanded the clean-energy incentives in 2009, a gold-rush mentality took over. A Gold Rush of Subsidies in Clean Energy Search http://nyti.ms/taQcIa http://www.nytimes.com
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