The Wall Street Journal reports on the Obama administration’s latest scheme to convince U.S. corporations to invest in the renewable energy sector:
The Obama administration is attempting to persuade U.S. corporations about the benefits of investing in renewable energy, in an effort to help the industry after a government grant program expired.
The Energy Department-led effort includes a planned March 13 meeting at which senior financial-firm executives and Energy Secretary Steven Chu would speak, documents viewed by The Wall Street Journal show. The 79 invitees include some of the largest companies in the U.S., from Exxon Mobil Corp. to Walt Disney Co., according to the documents.
The idea is to tell companies with big tax bills about the "attractive rates of return and brand benefits" that come with entering the so-called tax-equity markets in renewable energy, according to a Feb. 6 letter to invitees from Richard Kauffman, a senior adviser to Mr. Chu.