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GE Says Renewable Tax Credits Pay for Themselves

For the last two years, the renewable energy sector has been fighting to renew the "investment tax credit (ITC)." This little bit of cialis european legislation lets companies write-off a portion of money spent on building renewable energy projects. It's been fairly successful, spurring growth in solar and dosage levitra wind in America.

But now a huge number of renewable energy projects are on hold, because no one knows whether these tax credits are going to be extended. Bills containing the ITC have gone through the House and Senate almost a dozen times in the last few years and every time it's been denied. SunPower has said that it might leave the American market completely if the buy now online cialis ITC is not renewed.

Almost everyone supports the ITC, of course, but no one can figure out how, in our ailing economy, to pay for it. Democrats tried to take subsidies away from oil and gas companies, but the Bush administration threatened to veto any such legislation. And so we're at a standstill, with gigawatts of new power generation just waiting on buying viagra in chicago the news.

General Electric has entered the game, with their political savvy, and has decided that the ITC, in fact, pays for itself. It's no surprise that GE wants this passed. They're the US's largest producer of wind turbines, and they've got some exciting solar technology as well. They say that the taxable revenues generated by these projects, once they go online, more than offset the only here natural levitra ITC. And since, without the ITC, they won't be built, they are in fact revenue positive for the treasury.

A financial stickler might note that the revenues would be generated by coal power plants that would be built (without subsidies) in place of the renewable plants. And that would be significantly more revenue positive than renewable energy. But, really, is that the road we want to stay on?

Hopefully, GE's foray into this mess will mark a change in the wind, and we won't have to deal with a lapse in the only big steps the U.S. government has yet made to promote renewable energy.

Via CleanTech Media

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Comments (8)Add Comment
Interesting Take
written by The Food Monster, June 19, 2008

An interesting take on ITC. Regardless of whether it will be paid for via the use of buy levitra professional the renewable energy, we have to find some way to pay for it. Can't we just take some of the war funding away?
Incentives towards green energy
written by Green Gadgets, June 20, 2008
Until we have inititives where it becomes finantially attractive to produce green energy, we're not going to leave fossil fuels alone. The soaring fuel prices could be eliminated if a greater proportion of our fuel dependency was on cheap non-fossil fuel energy.
written by Craig, June 20, 2008
Ummm, I'm confused. Why in the world in the days of record profits is there even the possibility of subsudies for oil and gas company. Am I missing something or is that something similar to the cialis soft gel rich get richer? But I do think GE has the right idea. Government policy will only change if big business get's involved to tramadol cod cash on delivery make that change. And the forward thinking companies that invest in solar, wind, wave energy will find themselves on the forefront of growth. Assuming we can find a group of leaders that have the long term vision.
written by me, June 20, 2008
Just take all of discount viagra viagra the ITC's away from everyone and make it an even playing field. More than likely, the most cost effective method of producing power will win.
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written by John thomas, June 20, 2008
Great, now if someone could just invent a kid that pays for themselves we'd be in good shape! Freakin kid is eating me out of house and home, like a termite!

tax credits
written by anon, June 21, 2008
I only wish the money subsidizing big oil could go towards this but sadly we found out in India that if you cut subsidies, gas prices go up 40% and I'm not ready for that. Essentially we are being blackmailed into subsidizing them so we can't afford to subsidize their replacement.
written by Juggernaut, June 22, 2008
Re: Me's comment

Taking away the money of the ITC won't create the "level playing field" you suggest. In order to best benefit the consumer - and the energy producers - over the long run, there needs to a clear, long-term plan of subsidies and supports for alternative fuel sources. Currently, the infrastructure (including vehicle factories and the like) supports the production of oil. If there's no incentive for change, then companies will avoid making that change...and as oil runs out, the price increases will drive all related businesses (directly, shipping; indirectly, everyone who ships goods to market)under.

A solid plan that promotes the alternative power infrastructure will stabilize the whole system, and give all sectors enough time to implement plans to cope with coming changes.

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