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Solar, Wind Tax Breaks in Pipeline for Arizona, Rest of U.S.
Six solar power equipment companies in Arizona’s Phoenix metro area, for example, are earmarked to receive $30 million in federal tax credits should they be built. Not only more solar power resources, but also higher-paying manufacturing jobs would ensue. A further $45 million in tax breaks is on the table for five Arizona companies, should they expand solar equipment or wind turbine facilities in other states. Details are forthcoming, however, as locations for the projects—and even the projects themselves—have yet to be confirmed. Still, it’s a great jolt of energy (if you’ll excuse the pun) to the Arizona renewable energy sector, which is still in the aggressive stages of growth.
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GE Narrows Scope of Solar Power Investment
But despite an underlying enthusiasm for solar power, in the past year GE hasn't ignored corporate shakeouts and economic pressures squeezing that industry. Ecomagination, the brainchild of GE CEO Jeffrey Immelt, means wind and gas turbines, engines, high-efficiency appliances, smart meters and clean-tech investments. For solar power in 2009 and 2010, Ecomagination has meant guessing the direction of a capricious, capital-intensive solar panel manufacturing sector -- then choosing a winner and a loser.At the end of December, GE pulled the plug on its solar panel plant in Newark, Del., selling it to Taiwan manufacturer Motech Industries. GE scaled back assembly line operations there pr...
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