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Wednesday, May 16, 2012

Five things you should know about clean energy investments

Republicans held another hearing to question the value of government investments in the sector and  the title of the meeting gave away the real political intent:
 “The Obama Administration’s Green Energy Gamble: 
What Have All The Taxpayer Subsidies Achieved?”  

For balanced reporting on the issue Mr. Lacey presents a convincing case for the success of the initiatives undertaken....

Five positive things you should know about clean energy investments:

1. The  cash grant program supported up to 75,000 jobs and 23,000 renewable energy projects during the height of the recession. 
The program played a major role in maintaining momentum during the recession when it was very difficult for project developers to find banks that were willing to utilize tax credits.
The grants helping support $25 billion in gross economic activity, according to the National Renewable Energy Laboratory.

2. The production tax credit helps leverage up to $20 billion in private investment annually.

3. The loan guarantee program is expected to cost $2 billion less than budgeted. 
This program has gotten a black eye due to the bankruptcies of a few companies — most famously Solyndra — that received guarantees. 
But according to John McCain’s national finance chair, Herb Allison, the cost to taxpayers will likely be far less than initially thought.  

4. Home weatherization grew 1,000 percent from April to June of 2011, creating 14,800 jobs

5. The Advanced Research Projects Agency for Energy (ARPA-E) has supported dozens of potentially groundbreaking technologies in advanced materials, renewable fuels, electricity generation, waste heat, and battery storage. 


Stephen Lacey is a reporter with Climate Progress covering clean energy issues. He formerly worked as a producer/editor at RenewableEnergyWorld.com.


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