But there is still a long way to go. In 2012, coal and natural gas plants produced 37 percent and 30 percent of U.S. electricity, respectively, according to the U.S. Energy Information Administration, while wind generated 3.5 percent and solar just 0.1 percent.With all the subsidies, all the demagoguery, all the politics, all the ... whatever ... solar produced 0.1 percent of all electricity generated in the US in 2012. That's not one percent; that's one-tenth of one percent.
Meanwhile, how is that Massachusetts off-shore wind project coming along, the Cape Wind project? The promoter, using smoke and mirrors, says a last minute agreement with Siemens met the federal requirement to qualify for an investment tax credit. Windpoweroffshort is reporting:
Despite the progress, gaps remain before construction can begin. Cape Wind has yet to finalise its financing, although Rodgers said it expects to have funding in place in the second or third quarter this year.
Siemens has said it will likely take an equity stake in the project, although the company's US office would not comment further. Danish pension fund PensionDanmark conditionally agreed last year to provide the project with a $200 million mezzanine loan and remains committed to the project, said Christian Skakkebæk, senior partner at Copenhagen Infrastructure Partners, which manages the fund through which PensionDanmark is investing in Cape Wind.
"The project is progressing well and expects to qualify for ITC for a significant part of the invested capital. We are keen to see the project being realised and reaching financial close later in 2014, but there is still some work to be done before our mezzanine loan commitment of $200 million can be made unconditional," Skakkebæk said.So, we'll see. I have no dog in this fight. I am not a Danish pensioner and I don't summer in Cape Cod.