New US wind power installations down by 71%

In: Business

27 Jul 2010

The US government is slowly tightening the screws on spending and that is showing off on the new US wind power installations already.
The US government has already cut down on the subsidy for wind power installations this year, and that action has pulled down the new installations by a steep 71% in the first half of this year. With no possibility of the subsidy being restored by the government, due to the high budget deficit, experts are worried about the future of wind power generation in the country.
This would also mean that the dependence on crude oil and natural gas would be going up, which in turn could push the economic recovery further by few quarters or even a year.

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