Iowa Global Warming Campaign News

Stimulus to Bolster Renewable Energy Market

Monday, February 16th, 2009 at 3:32 pm

Amidst troubled economic reports, it looks like renewable energy sectors might be revived under the new stimulus act, Rueters reports.

Though the recent lending crisis has frozen credit normally extended to renewable energy companies, the stimulus package passed last week affords new funds for wind and solar projects via government tax credits and federal grants.

“We’re feeling very optimistic, and it feels like the message got to Congress,” said Arno Harris, chief executive officer of Recurrent Energy, a California-based solar power developer. “If the bill passes, (it did) I think we’re going to be off to the races.”

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