Despite the renewal of tax credits for investments in alternative energy like solar and wind for another 8 years, the wind energy systems do not have a bright future ahead, experts say.
The financial crisis is affecting banks, obviously, which in turn affects manufacturers and sellers of wind technology. Banks are demanding higher yields, being stingy about loans (and rightly so), making it harder and harder for companies to find capital to fund their projects.
As fun and funky as wind energy is, it ain’t cheap. The industry has been growing steadily in the past few years, but that growth may come to a slow, winding halt over the next few years.
Or will it?
Several Illinois wind manufacturers and retailers don’t seem worried a bit, like A.J. Beck, co-manager of Advanced Energy Solutions Inc. Seriously. He said he isn’t buying into the worry about the financial crisis, saying that banks are only being finicky with their lending with those who have bad credit. Beck isn’t worried one bit about finding capital.
Robert Vogl, president of the Illinois Renewable Energy Association, didn’t share Beck’s absolute confidence, but he didn’t seem too concerned either.
“Whatever the financing is in place, I’m assuming they will go ahead,” he said. Vogl did admit that the wind industry faces the likely chance of slowing down, but the situation is just one they will have to ride out.
Other companies are more clueless, than informed. Carol Bedard-Nelson, who co-owns Solergy Alternative Energy Solutions with her husband, gave me a standard neutral answer, and then proceeded to contradict herself a few times. She settle with, “It’s kind of a mixed bag right now.”
hmm. Whatever the case may be, it seems clear that certain companies and individuals need to be more aware of their industry…
h.
The Green Thumbelina 