Stimulus Could Benefit Big Turbine Manufacturers

February 12th, 2009
feature photo “For some of the smaller guys, the difference might be between an early and unhappy demise and staying in business.”
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By Daniel Whitten and Rachel Layne

(Bloomberg) — Vestas Wind Systems A/S, FPL Group Inc. and General Electric Co. would benefit from at least $61 billion to promote cleaner energy in the U.S. stimulus measure negotiated in Congress.

The $789 billion spending agreement struck by House and Senate lawmakers has direct spending and tax breaks for power lines, wind mills and smart meters, according to summaries issued by congressional leaders.

The federal aid would come in a recession that has dried up credit markets, caused cuts in clean-energy production and raised U.S. unemployment. The economic decline, the worst since the Great Depression, has set back companies developing clean and renewable energy sources after a record year in 2008.

“Dollar-wise, the big guys will get the bulk of it,” said Hugh Wynne, an analyst with Sanford C. Bernstein, in New York, in an interview. “For some of the smaller guys, the difference might  be between an early and unhappy demise and staying in business.”

source: Bloomberg

Filed Under: ARCHIVES • Corporate Updates

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There Are 2 Responses So Far. »

  1. Comment by Jerry on 13 February 2009:

    There could be no better investment in America than to invest in America becoming energy independent! We need to utilize everything in out power to reduce our dependence on foreign oil including using our own natural resources. Create cheap clean energy, new badly needed green jobs, and reduce our dependence on foreign oil. The high cost of fuel this past year seriously damaged our economy and society. The cost of fuel effects every facet of consumer goods from production to shipping costs. After a brief reprieve gas is inching back up. OPEC will continue to cut production until they achieve their desired 80-100. per barrel. If all gasoline cars, trucks, and SUV’s instead had plug-in electric drive trains, the amount of electricity needed to replace gasoline is about equal to the estimated wind energy potential of the state of North Dakota. There is a really good new book out by Jeff Wilson called The Manhattan Project of 2009 Energy Independence Now.

  2. Comment by Kurt A. on 13 February 2009:

    Wind and solar generated electricity are not the solution and can only be considered an expensive supplement to our energy solutions. We should adequately understand the problems associated with electrical power before running with the herd to the wind farms. One must understand that in energizing the electrical grid, efficiencies are less than 50%. Thus, when a wind turbine is not turning, it costs energy and money. When the sun does not shine, the solar grid costs energy and money. And when oil and gas are reasonably priced, it is hard to justify these “solutions”. From an environmental and aesthetic standpoint wind farms and solar arrays represent a blight on the horizon, literally. Compared to the energy packed in fossil fuels, especially clean-burning natural gas, the alternatives are a “feel good” fix at best. Worse, while oil and gas projects must pass several environmental assessments and impact studies, it seems as though wind farms get a pass, or at least only a cursory look and a wink. What impact, for example, will the reduction in overall wind currents have on an area as the result of wind farms? What impact will the loss of solar radiation on the earth have as more and more solar arrays cover the land? Americans should crack open a physics book, a weather book, and a geology book instead of listening to the latest group of “scientists” who like the Emperor’s new clothes. When we think for ourselves, we often tend to do the right thing.

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