Goading Green Energy - The Obama Incentive

He definitely has good intentions. Hopefully, U.S.and SunPower Corporation (California) was up $0.74
President Barack Obama's road to green energy will(1.91%) in after-hours trading.
lack in peril, but energy insiders aren't taking any bets.The solar industry is poised to create jobs as soon as
Obama's campaign plan, built on five million new jobs instimulus funding is delivered. In economically devastated
the "green" energy sector, aims to:o Strategically investareas from Detroit to New Orleans, individuals and
$150 billion to build a clean energy future.o Save morecompanies are poised to move down the greener
oil than we currently import from the Middle East androad of a renewable energy future. In New Orleans,
Venezuela.o Put one million, American-built, plug-inplans revolve around the Energy Smart plan, which
hybrid cars on the road by 2015.o Ensure that 10aims to outfit 300 homes per year with solar electric
percent of our electricity comes from renewablepanels and weatherize another 2,500 homes to meet
sources by 2012, and 25 percent by 2025.new energy efficiency standards.
It's an ambitious plan, but one that is currently goingAccording to New Orleans City Councilwoman Shelley
head-to-head with economic recession and theMidura, who leads the utility committee, the plan is
turbulence in Congress.ready to launch. Now all the Council needs is the real
The recession is the 500-pound gorilla in the room.green, in terms of stimulus dollars.
Congress has no such excuse. In Congress, theMidura says activating the plan will not only stimulate
foot-dragging over alternative energies like solar (anddemand for green products like solar panels and
the eventual necessity for updating the electricity grid)insulation, but will provide an incentive for alternative
is a direct reflection of the financially powerful coal andenergy firms to move to New Orleans, further
gas industries, whose spokesperson, Thomas Pyle ofboosting the economy.
the Institute for Energy Research, argues that theseIn Michigan, where an aging and ailing auto
industries could create jobs without costing themanufacturing economy is seeking funds from
American taxpayer more money.government, two more firms making solar panel
One would wonder where Pyle gets his figures. Thematerials in Hemlock - 80 miles from Detroit - are
coal and gas industries currently externalize their costsplanning a $3-billion plant expansion expected to
on the very Americans they propose to salvage. Thisgenerate hundreds of jobs.
is good corporate policy, but costs the American publicDow Corning and Hemlock Semiconductor announced
in excess of $5 billion a year just in plant subsidies, tothey will increase production of polysilicon, a key raw
say nothing of the billions spent on reclamation of oldmaterial used in the manufacturing of most solar cells,
sites, coal ash spills and carbon dioxide reduction plans.to generate approximately 7,000 megawatts of
T. Boone Pickens, the billionaire oil investor, has comeelectricity annually when fully integrated into solar
out in support of Obama's plan, which he says willpanels.
"kickstart" the economy. Obama's other plans, to makeThere is no guarantee Obama can goad Congress
75 percent of federal buildings and two millioninto pushing his green-energy agenda, but there is still
American homes energy efficient, would savehope for the American manufacturing sector, as
additional billions of dollars.demonstrated above. Time and time again, this
Let's say Obama gets his wish list. What might bemuch-maligned and often ignored extension of
some of the effects? One, solar stock prices jumpingAmerican business prosperity has pulled a rabbit out of
after Obama's economic recovery speech on Januarya hat to raise U.S. prosperity head and shoulders
8 is only the first manifestation. First Solar (Arizona)above the rest of the world, and there is no reason it
stock closed at $162.54, up 7.18, or 4.62 percent;can't do so again.
Evolution Solar Corporation (Arizona) ended up 3.16%;