Renewable Energy Grants: A Prisoner to Senatorial Whim
Renewable Energy Grants (or, wonkishly 1603 grants) face crucial vote today
What will become of the popular grants, which cover up to 30 percent of the cost of renewable projects? Right now, it appears as though the grants may be extended for one year, but the vote in the senate comes today at 3 p.m. As we wrote on Friday, however, this sort of will-they-or- won?t-they nailbiter happens because energy isn?t considered important enough to get its own legislation. So, we can look forward to more of the same in the coming years. ? Continue reading The Alternative Agenda: Renewable Energy Grants Face Crucial Vote and Cancun Fallout
Richard “Ted” Brandt co-founded energy-focused investment bank Marathon Capital more than 10 years ago, initially to advise middle-market power and energy companies and eventually solar, wind and other renewable energy companies. After years of sustained growth, partly supported by stimulus funds, Brandt is concerned that the sunsetting of green federal subsidies and the incoming, carbon-friendly Republican House majority, will result in more uncertainty for the renewable energy sector.
Green Energy Reporter: When did you launch Marathon Capital and why?
Richard Brandt: We launched Marathon Capital more than 10 years ago, in 1999, convinced that there was room in the power financing business for a firm like ours focused on serving middle-market power and energy companies. Back then, the U.S. power market was freshly deregulated and just about everyone was building gas-fired power plants. But while larger developers had little problem securing financing, Wall Street often overlooked deals below the $200 million mark. That’s the market my partners and I set out to serve when we launched Marathon.
Continue reading Cornerstone Conversation: Richard T. Brandt, Marathon Capital
On Thursday night Senate Majority Leader Harry Reid (D ? Nev.) introduced a tax package with a provision that would extend by one-year important green energy stimulus programs, including the very popular 1603 cash grants. By adding the green funding provisions Reid hopes to get liberal Democrats to support the tax cut extension brokered by President Obama earlier this week.
It’s the second time in a week that the Senate considers an extension of the 1603 grants. Republicans don’t like the grants, arguing that they?re?just “more government spending.” But obviously, Republicans also want to get the tax cuts extended and so could cave in and support a full extension of the green stimulus package, including the 1603 grants. Continue reading The Week in Green Energy: Getting to 1603?
In a conference call on Wednesday Energy Secretary Steven Chu said the Obama administration supports the extension of key stimulus-funded renewable energy subsidy programs, including the very popular 1603 cash grants.
Continue reading Exclusive: Energy Secretary Chu Calls for Extension of 1603 Cash Grants
Welcome to day one of the fourth quarter…2011 is only 90 days away! That’s just 90 days before crucial stimulus programs, including the very popular 1603 cash grants, expire. With Congress adjourned and a Democratic majority that’s fighting for its survival, it sure doesn’t seem like these green initiatives are going to be expanded anytime soon. That stark reality is pushing the green deal economy to move quickly to get projects approved by year-end. The clock is ticking and developers want a piece of the government pie while it’s still available
On the regulatory front, we’ve seen California’s powerful energy commission green light a record 2,729 megawatts of solar projects over the past month. Just this week the commission approved Tessera Solar’s 709-megawatt Imperial Valley project and NextEra Energy’s 250 megawatt Genesis project. “In order to qualify for federal stimulus funds, the projects needed to be approved… before December 31, 2010,” the commission said. Translation: time is running out. Continue reading The Week In Green Energy: On Your Mark, Get Set, Go!