Wednesday, June 06, 2007

Going Green Makes "Cents."

FTCR took a gratuitious shot at "Big Oil" even while complimenting Tesoro for its new refinery commitments, the folks at Green Wombat can't bear the fact Macy's has an economic incentive to make the move to solar:

"Of course, all this is great PR. But there's also some serious green at stake. Macy's will get all the state and federal tax breaks for the solar systems it owns as well as any potentially marketable renewable energy credits associated with the projects. The financier of the other solar arrays will retain the tax benefits and share any renewable energy credits with Macy's. SunPower and Macy's will jointly manage the energy efficiency upgrades. SunPower spokeswoman Ingrid Ekstrom told Green Wombat that SunPower is still negotiating the third-party financing. But the Wombat can't help noting that San Francisco solar banker MMA Renewable Ventures (MMA) just last week announced a new division that will finance and manage energy efficiency projects much the way it finances solar arrays for corporate clients."

Why is this a bad thing? The best way to get private industry to embrace alternative energy technologies is to give them an economic incentive to do so.

But clearly there are those in the environmental community who would rather see the move made by legislative fiat, and that is a recipe for futility.

If California has any shot at all at meeting its ambitious green energy goal, the first question that has to be asked and answered for and by industry is "What's in it for for me?"

Macy's Solar Shopping Spree [Green Wombat]