GE executive says US policy discourages renewable energy industry

GE executive says US policy discourages renewable energy industry

Washington (Platts)--7Dec2004


The top executive for GE's wind subsidiary Tuesday assailed US policymakers
for failing to cultivate a domestic renewable energy industry. Speaking at an
American Council on Renewable Energy conference, GE Wind Energy President
Steven Zwolinski said US policy breeds instability for renewable energy
producers largely because lawmakers have allowed a 1.8-ct production tax
credit to expire before voting to renew it. The credit lapsed at the end of
2003 and was extended by Congress through 2005 in October. It applies to
electricity produced from wind, biomass and geothermal energy. Zwolinski said
GE Wind spent $500-mil in the first seven months of 2004 to keep its factories
running in anticipation that the credit would be extended. Other companies
that planned to install wind turbines canceled or delayed projects.
Ultimately, GE Wind Energy shut down factories and laid off workers only to
restart them again when Congress passed the extension, he said.

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