Holding Wind Hostage (Part 2)

How important is the extension of the Section 1603 investment tax credit to the renewable energy industry?

Milbank Tweed lawyer Allan Marks says that if Congress doesn’t renew the ITC, capital investment in renewables could fall by 50% in 2012.

I wouldn’t be surprised to see if 1603 were not extended now, and if we didn’t have the ability to have a cash grant in lieu of the ITC, I wouldn’t be surprised if we saw a fall-off in the volume of capital available to finance projects, maybe by as much as 50 percent in 2012.

All the more reason for holding renewables hostage until the Obama war against fossil fuels stops.

Read “Holding Wind Hostage (Part 1)”.