AltEnToday

The writing on the wall is pretty clear. Alternative energy and our national dependence on foreign oil is a hot button, highly contentious political issue. Between T Boone Pickens’ plan, Al Gore’s “We” campaign, the numerous “coalitions” for clean coal, and the pressure to drill offshore, it’s nearly impossible to turn on the TV and not catch a glimpse of an idea for energy.

Unfortunately, our current economic turbulence has essentially shelved any plans to put a federal energy plan to work this year. According to USA Today, all efforts to push legislation through has stalled as congressional members are embroiled in a heated debate about bailouts, main street, wall street, credit markets, etc. The fact that this is a Presidential election year can’t possibly be helping push smart, structured, balanced regulation and incentives through the federal government. Nobody wants to be on the “wrong” side of an issue, so nothing gets done.

Frankly, I don’t mind the notion that the market will sort out the best solution to the multifaceted energy challenges we will face. Between our presidential candidates, the only clear advantage that I see is that McCain supports expanding nuclear power - something I think might be his strongest argument to date - on any issue.

The unfortunate reality is that we’re facing a slumping economy, and access to highly fluid credit markets is crucial to the construction and development of highly-capital intensive projects in wind and solar. The solidification of the credit markets should be a primary concern not just of the federal legislature, but also all the state and local governments that are heavily vested in the value of the property in their region. However, without clear congressional action on things such as subsidies, allocation of tax incentives and breaks, and vision for the future, it’s harder for new energy alternatives to come to market.