Sustainable North

From the Washington Post on Friday, January 9, 2009:

President-elect Barack Obama said yesterday that he wanted to double the production of alternative energy over the next three years, a goal that will probably require a new set of government incentives for the capital-intensive solar and wind industries.

Six months ago, some of the biggest names in solar- and wind-project finance were firms such as Lehman Brothers, Morgan Stanley, GE Capital, Wells Fargo and Municipal Mortgage & Equity. But many of those firms are mired in their own financial crises, and existing tax benefits for renewable energy projects are now unattractive to them. A technical aspect of the bank bailout has even made renewable tax incentives useless for some profitable banks.

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