New era for Alternative energy as US goes green

Global Business

New era for Alternative energy as US goes green.00_01_11_15.Still005

President Barack Obama’s push to wean the U.S. off fossil fuels like coal should be a dream for alternative energy providers. But many need subsidies to incentivize partners and consumers. In the case of nuclear power, that has caused a rift between two European partners over how much governments should help.
CCTV’s business correspondent Owen Fairclough filed this report from Washington.

New era for Alternative energy as US goes green

New era for Alternative energy as US goes green

President Barack Obama's push to wean the U.S. off fossil fuels like coal should be a dream for alternative energy providers. But many need subsidies to incentivize partners and consumers. In the case of nuclear power, that has caused a rift between two European partners over how much governments should help. CCTV's business correspondent Owen Fairclough filed this report from Washington.

More details:

  • Austria is so against nuclear power, it is suing the UK over a new reactor that will replace old coal fired power stations, claiming this will hinder investment in renewables like solar and wind.
  • Austrian lawmakers think 27 billion dollars of British government subsidies to support the plant will hide the true cost of power generation and distort prices as Europe moves to a single market for energy .