Spotlight on the House: Now is the Time for Renewable Energy Tax Credits

I spent more than 20 years of my professional career researching and developing renewable energy sources. I can say definitively that we haven't yet begun to realize the benefits that new energy technology development can offer to this country.

Doing so will mean good jobs in the United States. It will also mean an increasingly diversified economy developing energy efficient and environmentally friendly technologies, producing products and ideas for the rest of the world.

Estimates are that launching down this path will mean the creation of hundreds of thousands of new, stable, clean energy jobs in our country -- at all levels of the economic ladder.

In my former field, wind energy, 9,000 new jobs have been created in the past 17 months alone. Think about it: that's engineers who decide where to locate new turbines, technicians who erect them, mechanics who maintain them, steelworkers who manufacture them and drivers who transport them from place to place.

And that's just for wind energy. Don't forget about solar, geothermal, tidal, biomass -- and a whole host of other types of new, clean energy that may not have even been discovered yet.

That's why it is so critically important that we continue a series of tax credits to help spur investment in all these new forms of energy. These investment and production tax credits are set to expire at the end of the year, along with more than 100,000 renewable energy sector jobs.

Each day that passes without legislative action means greater potential for job loss, decreased investment and ultimately less domestic production of renewable energy.

The pending expiration and the uncertainty surrounding the extension of the tax credits means that investors will soon walk away from clean energy projects. Due to the significant time between conception and implementation of renewable energy projects, financing for many projects is on hold pending extension of the renewable energy tax credits. What's more, financing for projects currently under construction could also dry up in the coming weeks if it becomes clear that they cannot be completed before the end of the year.

Now, as we face a mounting energy crisis and an uncertain energy future, is not the time to play games with renewing these important tax credits. In fact, if we are serious about addressing the energy crisis we face here in America, I can think of no better investment than to support wind, solar, biomass, geothermal and other new energy forms that continue to become more affordable and available.

After all, renewable energy means not only economic security as we create good jobs while producing increasingly less expensive, clean, domestic power, but environmental and national security, as well.

I was proud to vote for legislation in the House last week that extends these valuable renewable energy tax credits. I encourage all of my colleagues to join me immediately so that, as a nation, we can truly become energy independent.

Comments

[liveride]

The Senate is debating H.R. 7060. Renewable Energy and Job Creation Tax Act of 2008”

Republican Senators have threatened to Kill the bill if it’s reduces Tax Breaks for Big Oil.

“The House bill is paid for by limiting tax breaks available to the oil and gas industry and closing loopholes that hedge fund managers and corporations use in paying taxes on overseas income.”

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/26/AR2008092601601.html

It’s both Callous and Criminal to continue to give Tax Breaks to Big Oil over Investing in Renewable Energy.

Republican Senators are betraying the Soldiers Serving and Dying in Iraq and Afghanistan by not doing all they can to free us from sending our Money and Troops to the Middle East.

Families are being torn apart and Home foreclosed on because of a lack of Jobs.

Massive investment in our ***Infrast­ructure*** and ***Renewable Energy*** Production is the most effective way to strengthen our Economy and National Security. We can create Millions of Jobs and Dozens of new Industries.

Renewable energy such as Wind, Solar, and Geothermal creates Millions of Jobs in Manufacturing, Construction, Maintenance, Electronics, Networking, Mechanics, Fabrication, Steel, New materials development, Education, and dozens of other industries.

We can create 2 Million Clean Energy jobs in just 2 years with a $100 Billion investment. Imagine how many $700 Billion would create (14 Million New Jobs?)

http://www.reuters.com/article/environmentNews/idUSN0930092120080909

[Hollis-Greene]

This is how we'll get clean energy... Let's start takin' these clowns down

[Bobg]

Hey McNerney - How about getting in the game? I understand McCain missed the senate vote on the renewables subsidy extension 8 times this year. The guy turned his back on his own Arizona constituency - we've got sun, lots of it. Every day we subsidize oil to the tune of 4,170 American soldiers dead, and 1-3 trillion dollars. The price of oil doesn't include the very real risk of global warming with its attendant potential for crop failure and global chaos, not to mention sea level rise. McCain is too stupid to figure this out so it's up to you as a representative of the people to bring this to his and the public's attention. Toughen up man. Do some homework, and resubmit this post. I am sick to death of nicey, nice environmentalists.

[larry278]

Since McCain won't talk to the MSM, we've lost one of the USA's biggest sources of hot air. We need geo-therman, solar & wind generated power to replace McCain's hot air; we need it now.

[research]

YES!

Use this financial disaster and the threat of impeachment hearing to ram this puppy through.

Sure wish our dem leaders knew how to play hard ball, but they are to afraid the GOP will get made at them.