Green Options

One of the biggest problems with wind power is that it’s often trapped in low-density rural areas. ITC Holdings wants to bring wind energy to major US city centers with the “Green Power Express”, a network of transmission lines that will move 12,000 MW of power from the Midwest to cities like Chicago and Minneapolis.

The U.S. small wind industry projects that the enactment of the credit, combined with a forthcoming equipment certification program, will provide thousands of new green collar jobs and contribute to an estimated 40% annual growth for the industry.

Whether the global credit crunch will actually help or hurt the search for solutions to climate change is becoming a debatable issue.

Currently, the issue of climate change appears to be on the back burner as governments are focused on the financial problems that have shaken the global economy. It could be several months before politicians return to focusing their attention on long term problems like global warming.

The green economy shows signs of rebounding faster than others shaken by the global financial turmoil. There are several indicators pointing to the fact.

Given the hue and cry that has been unleashed in America with regard to the bailout, there is finally good news for the renewable energy industry. The Emergency Economic Stabilization Act of 2008, passed by the House of Representatives and signed into law by President George Bush immediately afterwards, extends investment and production tax credits for the wind and solar industries. The extensions will be partly paid for by a change in the tax code for the oil and gas [...]

After failing to pass the extensions 8 times so far this year, the bill was approved by an overwhelming 93 to 2 majority.

The U.S. Senate is likely to vote today on legislation that would extend tax breaks for renewable energy production and energy-efficiency measures. Republican presidential hopeful John McCain has recorded an absent vote on the matter 8 times this year. Will he make it 9?