Energy Markets: Incentivize, Subsidize or Penalize?
Modern Energy Roundup - October 25, 2012
There's a lot of quality content this morning regarding clean energy. So I've decided to use today's Modern Energy Roundup to share it with you.
Check it out. . .
While the anti-clean energy brigade continues to pump out the lies, misinformation and empty rhetoric, Michael Shellenberger and Ted Nordhaus dive into the world of energy subsidies to show folks that it's not only renewables that have been on the receiving end of tax dollars.
You know that amazing technology called fracking? The one that's creating fortunes for investors while helping consumers save a few bucks on their gas and electric bills? Well, much like those horrible socialist plots called wind and solar, the government has repeatedly extended a $10 billion tax credit to subsidize unconventional gas as a way to incentivize the industry to get aggressive on shale. Not saying it's right or wrong. But you can decide that for yourself after reading all the nasty details here.
You probably like solar energy. I know this because I recently got a press release from the solar lobby, “Poll Reveals Strong Support for Solar Energy Across Political Spectrum.” It turns out that 92% of likely voters, including 84% of Republicans, want more sun-powered electricity. But will they get it? Although solar is now a political football, after the election, if the industry plays its cards right, it could be left out of the dog and pony show debates while Americans in record numbers continue to slap solar panels up on their roofs. Here's some commentary that lays out the details.
Nearly three years ago I began warning investors that the solar industry was about to head into a major consolidation phase. Since that warning, that's exactly what's been happening. The laggards are getting weeded out and the big dogs are swallowing up the little guys that can still bring something to the party. It's even gotten to the point where some companies are simply putting their cards on the table and showing some proverbial leg in an attempt to lure hungry suitors. Such is the case today with Renewable Energy Corp. Admitting its struggle as a result of falling demand and excess capacity, the Norwegian-based solar firm announced today that it is a merger candidate and it's gearing up for a probable consolidation. You can read more about that here.
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