NEW ENERGY GOES BIGGER THAN OIL

What Just Happened in Solar Is a Bigger Deal Than Oil Exports; The impact: $73 billion in new investment in the U.S.

Tom Randall, December 17, 2015 (Bloomberg News)

“The clean-energy boom is about to be transformed. In a surprise move, U.S. lawmakers agreed to extend tax credits for solar and wind for another five years. This will give an unprecedented boost to the industry and change the course of deployment in the U.S…The extension will add an extra 20 gigawatts of solar power—more than every panel ever installed in the U.S. prior to 2015, according to Bloomberg New Energy Finance (BNEF)…The wind credit will contribute another 19 gigawatts over five years. Combined, the extensions will spur more than $73 billion of investment and supply enough electricity to power 8 million U.S. homes…By the time the new tax credit expires, solar and wind will be the cheapest forms of new electricity in many states across the U.S…

click to enlarge

“The tax credits, valued at about $25 billion over five years, will drive $38 billion of investment in solar and $35 billion in wind through 2021…Stocks soared. SolarCity, the biggest rooftop installer, surged 34 percent yesterday. SunEdison, the largest renewable-energy developer, climbed 25 percent, and panelmaker SunPower increased 14 percent…[The tax credits came as] part of a broader budget deal that also lifts the 40-year-old ban on U.S. oil exports…” click here for more

click to enlarge

Tweet