In the world of Washington politics, one man's incentive may be another man's subsidy or boondoggle. A Wednesday afternoon posting on the Wall Street Journal's Environmental Capital blog reported the Senate's rejection of an attempt to extend tax credits given to renewable energy projects. The posting describes the on-again/off-again life of renewable energy tax credits and the punishing effect their uncertainty has had on investment in wind energy projects. Each time the production tax credit has lapsed, investment in wind energy has fallen off sharply, roiling the wind industry: The U.S. has never had long-term clean-energy subsidies in place; usually they are renewed for a year or two at a time. Lots of people in the industry blame that unpredictability for the stop-and –start pattern the clean energy industry’s developed over the last two decades. New projects generally come to a standstill the year after tax credits expire. The American Wind Energy Association, a
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