Getting your player ready...
Billionaire oilman T. Boone Pickens put his massive wind-farm plans on hold in Texas. A Maryland solar- plant project has been scrapped. And the nation’s second-largest ethanol company is under bankruptcy protection.
The alternative-energy sector has run smack into a credit crisis, probably a recession as well, and almost all industry experts think the fourth quarter is going to be worse.
Yet many believe it could emerge from the economic turmoil scarred but stronger. The International Energy Agency in Paris this week predicted green energy will be the second-largest source of global electricity generation before 2015.
