Time to Tell the Alternative Energy Industry to Grow Up

The Senate Finance Committee gathered this week to discuss whether the time has finally come to cut the umbilical cord of tax incentives from the mollycoddled alternative energy industry.

Time to Tell the Alternative Energy Industry to Grow Up
by JACKIE MOREAU

The Senate Finance Committee gathered this week to discuss whether the time has finally come to cut the umbilical cord of tax incentives from the mollycoddled alternative energy industry. This may sound childish, but many of the witnesses pushing for an extension of expiring tax incentives for renewable energy characterized their allegedly up-and-coming market in such terms. Venture capitalist Will Coleman for Mohr Davidow Ventures maintained that despite alternative energy’s “rapid growth,” such as in wind, “it is still in its infancy.” Paul Soanes, President and CEO of Renewable Biofuels, testified: “The industry is like a child that needs some nurturing.” The question then becomes: will a renewed tax extension fund a future pride-and-joy of profit or a prodigal embarrassment (I.e. Solyndra). (Cooler Heads)

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