What is the next hottest government program now that "cash for clunkers" is over? Yup, you guessed it. It's wind farms.
According to the Wall Street Journal (subscription required), the government is starting a new program to subsidize the production of wind farms all over the country. Under the program, the government will rebate 30% of the cost of building a renewable energy facility, awarded 60 days after the application is approved. The Energy and Treasury Departments expect to spend $3 billion initially. Some people believe, however, that applications could grow to $10 billion. This new program started July 31.
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