Environmental Capital provides daily news and analysis of the business of the environment. It tracks how growing green concern, particularly over climate change, is roiling established industries and spurring new ones – and how that shift is affecting investors, consumers and the planet.
Visit WSJ.com: Environmental Capital
Green Meltdown: Credit Crunch Whacks Renewable Energy, Too
Posted on October 09, 2008
The financial meltdown isnt just giving fits to Wall Street, homeowners, and the oil market. Its throwing a wrench into wind powers breakneck growth, too.Credit's drying up (AP)Renewable energy should be celebrating, after Congress included an extension of clean-energy tax credits in the bailout package. But solar power has been reeling. Wind power, which managed a one-year extension of its vital tax credits (solar power got an eight-year reprieve), isnt doing much better. The problem? The credit crunch.Capital for wind power projects is drying up as banks turn skittish (or disappear outright)...
Original article link
Subscribe to WSJ.com: Environmental Capital