The current success of renewable (solar, wind, biomass, etc.) and clean electric power generation projects and technologies has been in large part due to public approval and governmental support. This support has come in a variety of forms that mandate use and subsidize cost: renewable fuels standards; renewable portfolio standards (“RPS” — percentage requirements for renewables as part of any total power supply) adopted in many states; grants and loan guarantees from, primarily, the US Department of Energy; and significant investment tax credits (ITC) and other indirect subsidization.
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