Solar Companies Race to Finish Projects as Tax Grants Expire
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U.S. renewable energy developers are racing to complete projects amid concern banks won’t fill the gap in financing once a program of tax credits expires in December, said Arno Harris, head of Sharp Corp.’s solar unit.
“The U.S. has 30 gigawatts of utility-scale solar in the pipeline,” Harris, chief executive officer of Recurrent Energy, the solar project unit of Osaka, Japan-based Sharp, told a conference in New York today. “All of that is at risk. Financing could drop off a cliff.”