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The great renewable energy bailout
Back in October, Fortune’s Todd Woody was one of the first reporters to point out the devastating threat the credit crunch posed to the renewable energy industry. A time-honored mechanism for government support of the industry was to give renewable start-ups big tax credits to apply against the huge cost of building, for example, a solar power plant. But these start-ups weren’t profitable, so they didn’t pay any taxes, so they couldn’t use their tax credits. Instead, they joined forces with Wa

