Green energy companies see secure future in Obama's plan

New York

SOLAR and wind energy in the US is likely to have a secure future thanks to President Barack Obama's plan to cut carbon emissions by forcing utilities to use renewable sources to produce electricity, the industry said on Monday.

With its 2030 deadline, Mr Obama's Clean Power Plan offers a degree of stability over the next 15 years to renewable energy companies which have historically relied on more precarious state and federal subsidies to drive growth.

"The manufacturers will keep investing if we can look forward and say over the next five-plus years we're going to see continued demand for this product," said Mike Garland, chief executive of Pattern Energy Group Inc, which owns 16 win…