Renewable Energy Industries Ready to Lead U.S.
Economic Recovery
November 13, 2008
The leaders of the American Wind Energy Association, Geothermal Energy
Association, National Hydropower Association and Solar Energy Industries
Association today released the following statement:
The fast-growing renewable energy sector is poised to help lead the U.S.
economic recovery with millions of new jobs and billions of private
investment dollars. However, the new Administration and Congress need to
take action to ensure that the renewable industries’ growth continues, given
the current economic realities.
President-elect Obama has made a commitment to key policies that will spur
substantial growth in America’s clean renewable energy industries and create
millions of new jobs. Building upon these key policies, the renewable energy
industries’ top priorities for the Obama Administration and the 111th
Congress include:
Immediate Action:
- Adjust renewable energy tax credit policies so incentives work as intended
given current economic conditions.
111th Congress:
- Adopt a national renewable electricity (portfolio) standard to ensure that
at least 10 percent of electricity consumed in the U.S. is derived from
renewable energy sources by 2012, and at least 25 percent by 2025;
- Approve a minimum five-year extension of the federal renewable energy
production tax credit (PTC) and additional funding for the Clean Renewable
Energy Bonds (CREBs) program;
- Issue an Executive Order expanding federal procurement of renewable energy
generation to meet the government’s substantial energy supply needs;
- Launch a major initiative to support investment in our nation’s interstate
electrical grid infrastructure and smart-grid technology to deliver green
energy from areas with renewable resources to population centers and to
support distributed power generation;
- Invest $30 billion in 2009 for financing options that support new project
development and installations for all renewable energy technologies as part
of the Administration’s commitment to investment of $150 billion over the
next ten years in clean energy technologies;
- Adopt a cap-and-trade regime to reduce greenhouse gas emissions that
rewards production of clean renewable energy.
If the Administration and Congress can quickly implement these policies,
renewable energy growth will help turn around the economic decline while at
the same time addressing some of our most pressing national security and
environmental problems. Expansion of renewable energy production will mean
billions of dollars in economic growth, millions of new jobs, enhanced
energy security as we increase domestic energy production, and critically
important progress in reducing greenhouse gas emissions.
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Randall Swisher, Executive Director, American Wind Energy Association,
www.awea.org, 202.383.2508
Karl Gawell, Executive Director, Geothermal Energy Association,
www.geo-energy.org
202.454.5261
Linda Church Ciocci, Executive Director, National Hydropower Association,
www.hydro.org, 202.682.1700
Rhone Resch, President, Solar Energy Industries Association,
www.seia.org , 202.682.0556 |