Victory bonds could provide financial support to clean energy
The Clean Energy Victory Bonds Act of 2014 has been introduced to Congress in an effort to secure the United States' clean energy future.
 |
|
Credit: Alfred Joseph Casson/Wikimedia Commons |
With the uncertainty surrounding tax incentives for renewable energy, the Clean Energy Victory Bond would extend vital tax credits for a decade and provide an opportunity for average investors to support the clean energy economy.
The bond is modeled after the World War II Victory Bond purchased by millions of Americans for a total of $185 billion. The Clean Energy Victory Bond will provide individual and institutional investors with the opportunity to invest in sectors such as solar, wind, second generation biofuels, electric vehicles, and residential and commercial energy efficiency programs.
Clean Energy Victory Bonds will leverage a $50 billion investment to provide up to $150 billion in public and private financing to fund the production of innovative energy technologies and support the clean energy sector. Both areas in the U.S. are falling behind compared to the rest of the world. The bonds are also expected to reduce U.S. dependence on foreign sources of energy, enhance national security, and limit price increases and fluctuations.
"From a business perspective, the Clean Energy Victory Bond makes great sense," said Richard Eidlin, co-founder & policy director, American Sustainable Business Council, a supporter of the bill. "The clean energy industry has not had the steady flow of financial support that investors and business need to plan effectively, resulting in investors often deciding to place their investments overseas rather than in the US."
For more:
- see this
report
Related Article:
Senate Finance Committee approves PTC extension through 2013
© 2014 FierceMarkets, a division of Questex Media Group LLC. All rights reserved.