New Bill Cuts Renewable Energy Loan Guarantees
The US renewable energy industry has warned it could be severely affected unless the administration acts urgently to restore $1.5bn of renewable energy loan guarantees that have been diverted in the emergency funding bill to cover Medicaid payments and teachers’ salaries. This is the second time the loan guarantee scheme has been raided, as $2bn was diverted in August 2009 to help pay for the government’s popular “cash-for-clunkers” scheme. Renewable energy groups warn the move would “jeopardize the renewable energy industries’ efforts to develop clean electric generation and create tens of thousands of jobs”. Source: Clean Skies News
