Who's Running The Ship? What's The End Game?
Published: August 5, 2010
On August 5th, Senate Democrats dropped $1.5 billion of stimulus funding for renewable energy and electric transmission loan guarantees to help offset a $26 billion state aid bill that is set for a floor vote today. According to energy news outlet E&E: The $1.5 billion would be drawn from $6 billion that Congress provided to help companies developing renewable energy and transmission projects afford fees linked with Energy Department loan guarantees. Harry Reid plans to bring the state aid bill, which includes cash for teachers and Medicaid, to the floor tomorrow, the Nevada Democrat's spokeswoman said. Democrats failed to get 60 votes for cloture yesterday when the Congressional Budget Office said $5 billion of the bill was not paid for, nixing any chance for Republican support. SEIA immediately responded, “It is our understanding that DOE has asserted that even after these cuts there are adequate funds available in the Section 1705 Loan Guarantee Program to provide assistance to pending applications that are expected to qualify. With dozens of projects pending - and two DOE solicitation deadlines still to come - we are extremely concerned that this assertion may not take into account all relevant facts.” The fact that this happened on the Senate floor under
democratic leadership and the Obama administration is beyond
belief. You may remember we have a Presidency where one of the
three policy planks is green jobs and energy transformation. The
United States DOE is moving away from commercialization and
putting more focus on what they call “high impact” R&D. As one
leading renewable energy CEO stated to me, “we're reverting back
to ‘we in the government know what's right’ not those in the
private sector.” According to the researchers, this crossover occurred at 16 cents per kilowatt-hour (kWh). Power quotes Mark Cooper, senior fellow for economic analysis at Vermont Law School's Institute for Energy and Environment: “While solar power costs have been declining, the costs of nuclear power have been rising inexorably over the past eight years.” And by way, these positive economics also apply to the entire
portfolio of high-value energy efficiency and renewable energy
technologies.
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