in News Departments > Policy Watch
print the content item

President Obama has signed into law the American Recovery and Reinvestment Act, a $787 billion stimulus packaged intended to create jobs, jumpstart growth and transform the U.S. economy to compete in the 21st century. The compromise version of the act will create or save 3.5 million jobs over the next two years, according to the White House.

Among the other measures, the package will double renewable energy generating capacity over three years, as well as create a Clean Energy Finance Authority that, combined with renewable tax credits, will leverage an additional $100 billion in private investment in the renewables sector. The finance authority will provide loan guarantees and other financial support to help ease credit constraints for renewable energy investors and catalyze new private sector investment.

The American Wind Energy Association (AWEA) applauded the bill's signing. "The U.S. wind energy industry is grateful to Congress and the president for taking this important step to secure an economic recovery that includes a strong focus on renewable energy," says AWEA CEO Denise Bode. "We are thankful to be called upon, and ready to deliver. Wind power will create jobs by the thousands today and help build the vibrant, clean energy economy of tomorrow."

SOURCES: White House, AWEA

Mortenson Construction_id2024

Trachte Inc._id1770
Latest Top Stories

Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.


Could Initial Offshore Wind Projects Crash New England's REC Market?

Some are concerned that the first offshore wind projects could negatively impact pricing of renewable energy credits (RECs) in New England.


Catching Up With The DOE's Down-Select Offshore Winners

The three recipients of key U.S. Department of Energy (DOE) funding provide updates on their offshore wind demonstration projects.


Texas Comptroller Attacks Wind Power, And Industry Fights Back

Texas Comptroller Susan Combs recently released a report calling for an end to wind power subsidies. The Wind Coalition has responded, saying the report is riddled with misinformation.

Renewable NRG_id1934
Canwea_id1984