Monday, March 09, 2009

N.C. makes growing share of energy be renewable

North Carolina lawmakers have passed a law requiring renewable energy to take a larger role in fulfilling the state's energy needs. The renewable-energy mandate is modest in scope, requiring that renewables generate 3 percent of total utility sales in 2012, rising to 12.5 percent by 2021. sTILL, "Generous tax credits salve the sting of investing in expensive technology," reports Bruce Henderson of The Charlotte Observer. "And an energy-focused president believes he can help heal the economy by developing alternatives to fossil fuels."

The renewable-energy mandate, the first in the Southeast when passed in 2007, has encouraged entrepreneurs across North Carolina to see investment in renewable energy infrastructure as sound business. hOWEVER, "For now, renewable energy is expensive compared to coal and nuclear plants, which cost billions to build but are relatively cheap to run," writes Henderson. According to Bob Leker of the State Energy Office, "Low electric rates have made it hard for alternatives to gain a foothold in the Southeast." (Read more)

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