Newly elected President Barack Obama is to put into motion energy and climate bills next year in an effort to both stimulate and make greener America’s frail economy.
Committing $150 billion in investment over 10 years, Obama hopes to create 5 million green collar jobs and catalyze private efforts to build a clean energy future based on technologies such as wind energy and solar power.
The ‘New Energy America plan’ has been branded “a bold new national goal on energy efficiency” on Obama’s web-site. The plan proposes a long term extension to the production tax credit and a nationwide renewable portfolio standard requiring that 10% of electricity comes from renewable energy sources by 2012 and 25% by 2025. Through the plan Obama has committed to extend the production tax credit, currently worth 2 cents per kWh for 5 years. The key question – is this enough to give the renewable energy industry the same confidence as Obama?
Above photo of Obama signing turbine blade taken from the Sierra Club press release
Timlynn Babitsky
November 12th, 2008
Hi Vicky,
I think there are at least three large issues centered in President-Elect Obama’s plan. 1) Put a stop to the excessive consumption of and dependence on foreign fossil fuels by the US; 2) Stimulate the US economy by embracing what author Tom Friedman (“Hot, Flat and Crowded”) sees as the next “industrial revolution” (new energy technology); and 3) Put a halt as quickly as possible to the US contribution to global warming.
These are not in any particular order above. But, the coming together of all three at one time under the exceptional visionary leadership of Barak Obama will herald a huge change in US energy policy and action.
Michael T.
November 2nd, 2010
Obviously this is a great beginning to building an infrastructure that is in America, and going to benefit Americans directly without relying on foreign oil or fossil fuels. Despite arguments to the nature conservatists on the impact to the land/water areas in mind to build the upcoming projects – the benefits, as far as the reduction in carbon and pollution far outweigh other concerns. The Great Lakes Wind workshop recently hosted by the DOE and Steven Chu indicate there is financial backing form the government. “By working collaboratively with private industry and our state and Federal partners, we can help to accelerate and support the development of wind energy in the Great Lakes.” – Steven Chu quote.