Economy, Planet in Trouble: Green Energy to the Rescue?
With a tipping point in climate change maybe a few years out, perhaps
triggered by the soon completely melted summertime Arctic ice cap, were
probably well past the point where a semi-market-based-only approach to
cutting greenhouse gas emissions, like cap-and-trade, will do any good.
Government needs to step in.
Among the measures that can be done now is to continue to build emission
free renewables while dramatically cutting back on power consumption, so
that new fossil power plants dont need to be built until carbon
sequestration technology can be implemented. There needs to be some
political leadership to put direction in the climate saving effort.
Fortunately, globally, renewables as well as efficient energy have built up
a considerable head of steam. Concerns over oil supplies, concerns over
global warming, and in many places government mandate and government
assistance for green energy have been driving the industry forward, gaining
traction and momentum for a number of years now. The green energy sector has
been hot, creating jobs, new business opportunities, new wealth, improved
technologies and new inventions all while helping to cut greenhouse gas
emissions.
But, a global recession could throw the whole industry off track. The
industry needs constant investment and, to keep costs competitive, some help
from government.
If demand drops in a recession investment wont be as appealing because of a
slow financial return. Long term government support of renewables and
efficient energy technologies would give investors confidence that the
sector is here to stay and worth investing in.
A joint statement of the National Hydropower Association, Geothermal Energy
Association, Solar Energy Industries Association, American Wind Energy
Association says this about the economy and the industries they represent:
As leaders of four major renewable energy trade associations, we
respectfully urge bipartisan Congressional Leadership and the President to
work together to include renewable energy tax provisions in any economic
stimulus legislation currently being developed .
2007 was a record year for renewable energy in the US. Almost 6,000
megawatts of new renewable energy came on line in 2007, infusing over $20
billion of investment into our economy. And along with this investment came
jobs. In 2007, the renewable energy industries put Americans back to work,
creating tens of thousands of high quality jobs in all 50 states. Jobs like
electricians and plumbers, line workers, roofers, engineers, and high-paying
manufacturing jobs. These jobs are the backbone of our economy in the US
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But already these jobs and many more are at risk. The 2007 energy bill was
passed in December with much fanfare, but without an extension of the
renewable energy tax credits. Already we are seeing sales and new project
announcements drop off. Large scale solar and wind projects take longer than
a year to site, permit and construct. And with only 11 months to go before
the credits expire, these projects have started drying up. Even larger
concentrating solar, geothermal and hydro projects take many years to
construct and will not get built without a long-term extension of the tax
credits. If the renewable energy tax credits are allowed to expire, we will
lose hundreds of thousands of jobs here in the US.
Well said.
A renewal of the tax credits would help as well as a new round of tax breaks
for everything from heating and cooling equipment to hybrid cars. Green
energy, its industry, climate change and the economy are already connected,
but the connection has to go deeper and be made a public issue. The
presidential candidates could help in this regard.
There are job opportunities everywhere in the sector from brave souls that
climb to the top of wind turbines to keep them maintained, to consultants
who offer wise advice on how to save kilowatts, to marketing professionals
that make sure consumers are aware of the latest products, to assembly line
workers who put together solar panels.
And, of course for the most savvy in the business, there are profits to be
made.
Washington, dont let this industry fall apart. Its good for the economy.
Its good for the planet. Support it. Embrace it.
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