Just as solar and wind technology takes off, the credit crunch comes along and pours ice water all over it. That’s the gist of a New York Times article. Sales are slumping, banks are cutting back on funding and factories are laying off staff. “I thought if there was any industry that was bulletproof, it was that industry,” said Rich Mattern, the mayor of West Fargo, N.D., where a local plant produces towers for wind turbines. The article goes on to document what is going wrong. Solar and wind companies are hoping Obama’s stimulus package revives funding and restores growth. Let’s hope.
Credit: New York Times article