The renewable-energy sector is considered one of the fastest-growing industries in all over the world. In some cases, investment in these industries depends on incentives from the government.
During a recent interview with the Paxton Record, Illinois State University economics professor David Loomis said that some firms were scrambling to complete projects, not knowing whether lawmakers would extend a tax credit in 2013.
"Each company will only have so many projects that they can physically get done … so they’re going to have to prioritize which projects get done, and Illinois projects might not get built with that level, that kind of a rush," Loomis told the source.
Others in the region agreed with Loomis. In an interview with the news source, Vision Energy president Turner Hunt said that the ongoing uncertainty is making things more difficult, and that it was "hard to have a plan in place" without knowing the future.
In Europe, the renewable energy sector is expected to drive growth for years to come. A study from Roland Berger Strategy Consultants revealed that the clean-energy industry would see one million new jobs added by the year 2025.
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