U.S.-based solar, wind, geothermal and biomass trade associations have stated that American renewable energy projects will slow down if Congress does not extend a federal grant program which is due to expire next month.
The American Wind Energy Association, the Solar Energy Industries Association, the Geothermal Energy Association, and the Biomass Power Association have all sent letters to lawmakers in Washington urging them to extend the program. These industries are acting before Republicans -- which have made clear their intention to reduce the deficit -- take over the House in January and the situation becomes more tenuous.
According to the trade associations, the grant program, which was part of the 2008 economic stimulus package, has not only been vital for the growth of renewable energy in America, but also has saved and created thousands of jobs. On October 25, 2010, White House officials said the grants were "much more effective in promoting renewable energy" than a program which promotes clean energy projects through government loan guarantees.
In their letters to government officials, the trade associations said failure to continue the grant program will induce a "significant slowdown in the renewable-energy industries, resulting in the loss of jobs and further transfer of clean-energy leadership to other countries."
Read the full story at Bloomberg: Solar, Wind Companies Predict Projects Will Slow If U.S. Eliminates Grants
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