September 14, 2012

FOR THE LEFT AND RIGHT IT ISN'T ABOUT POLICY, BUT ABOUT EACH OTHER:

Ending renewable energy's villainy (Vice-Admiral Dennis V. McGinn SEPTEMBER 12, 2012, Reuters)

It's long past time to move beyond the accusatory politics of misrepresented facts and return to the bipartisan collaborative spirit that has driven clean energy's success in this country. With less bad politics and more good policy, the sector can rapidly expand and make America a world leader in clean, renewable energy technology.

The fact is that the U.S. renewable energy industry is far stronger today than it was when the bipartisan Energy Policy Act passed in 2005; since then private investment has leveraged government support and both have played an important role in the industry's success. Overall last year, U.S. solar installations doubled. Since 2007, 35 percent of all new electricity-generating capacity in the U.S. came from wind power. And last year, America produced 14 billion gallons of biofuels - double the amount of oil we import from Venezuela.

The U.S. now leads global clean energy investment, and clean technology is the leading venture capital category. Recent weeks have seen the announcement of hundreds of millions of dollars in new private investments in these technologies. For example, on July 25 investment bank Credit Suisse announced $300 million in new funding for rooftop solar installers SunRun and SolarCity. That is in addition to more than $120 billion in commitments to renewable energy by Wells Fargo, Goldman Sachs, Bank of America and other major financial institutions.

The U.S. military has also become a major supporter of energy efficiency and solar, wind, biofuels and other clean technologies for the tremendous value they provide in combat effectiveness, cost savings and energy security. There are plans to install 160,000 solar systems on military residence rooftops across 33 states. Military investments have led the nation and helped reduce the cost of advanced biofuels by more than 80 percent.

And the Army is planning to invest $7 billion over the coming years to obtain 25 percent of its energy from renewable sources by 2025. Most importantly, these investments will save lives and make America a more secure nation.

And herein lies the contradiction: Our nation's biggest investors and armed forces clearly support the renewable energy technologies. Why, then, are so many politicians so far behind? Why are our nation's biggest investors and our armed forces sticking with renewable energy technologies when some in Congress have abandoned them?

Posted by at September 14, 2012 5:03 AM
  

blog comments powered by Disqus
« SELF-FULFILLING HYPOCHONDRIA: | Main | A DEFLATIONARY EPOCH HAS TO RENDER LOW RATES: »