The federal body's Energy and Commerce Committee has released a report stating a quarter of the $16bn given in subsidies for renewable projects since 2009 under the Section 1603 Grant Program for Renewable Energy has gone to ‘foreign' companies U.S. subsidiaries of European and Asian parent companies.
The critical report also states that the program has created only around 8,000 permanent and temporary jobs at a cost of around $1.2m per post to the U.S. taxpayer.
The committee is preparing the way to oppose the newly re-elected President‘s plan to extend the Section 1603 program for a further 12 months.
The wrangle is sure to be one of the bones of contention in the ongoing ‘fiscal cliff' economic battle which was postponed by the agreement forged between the two parties at the close of 2012.
The hostile report has been released in the wake of last week's research from the Pew Charitable Trust which called for an extension to clean energy tax credits in the U.S. and a renewal of incentives for clean energy manufaturing in the country.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.