Job Act's 'Green Bonds' Move to the U.S. House

Job Act's 'Green Bonds' Move to the U.S. House

If the Senate 'Green Bonds' amendment becomes law, green buildings such as the award-winning Cesar Chavez Education Center would become even more common.

"The Allard 'green bonds' amendment will accelerate the deployment of solar and other clean energy technologies nationwide."

- Scott Sklar, SEIA's interim Executive Director.

House Washington, DC - May 19, 2004 [SolarAccess.com] The Solar Energy Industries Association (SEIA) called on the U.S. House of Representatives to include jobs-creating renewable energy provisions in its FSC/ETI repeal bill (known as the JOBS Act), including a "green bonds" amendment included in the U.S. Senate version of the bill passed last week. The amendment, authored by Senator Wayne Allard of Colorado, would establish a program providing tax-exempt financing for energy efficient, environmentally friendly buildings.

"The Allard 'green bonds' amendment will accelerate the deployment of solar and other clean energy technologies nationwide," said Scott Sklar, SEIA's interim Executive Director. "At the same time, these high-visibility installations will showcase the progress we are making toward achieving zero net-energy buildings that will generate as much energy as they consume."

The Environmental Protection Agency will administer the program, selecting one project per state, to be built on brownfield sites using U.S. Green Building Council standards. The projects will utilize renewable energy and energy efficiency technologies in an integrated and cost-effective manner. Such buildings frequently employ solar electric and solar hot water systems.

The Senate version of the JOBS Act also includes a 15 percent residential tax credit for solar electric and solar hot water systems, as well as reinstatement of the wind energy production tax credit along with its expansion to solar power. The House is still developing its legislation, and House leaders have not decided which energy provisions to include.

"The solar industry hopes that the provisions are expanded to include solar generation and sustainable development projects that significantly incorporate the broad portfolio of solar technologies and applications," Sklar added. "We urge the House to move quickly to pass these and other clean energy provisions, which would help create jobs while enhancing our energy security. Green bonds today will mean more green dollars for U.S. workers tomorrow."

For Further Information:

• SEIA

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