ABB_id2059
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

IOWA Economic Development id2073

Trachte_id2056
Latest Top Stories

More Investors Entering Tax Equity Market; Returns Holding Steady

The entry of new tax equity investors to the wind space last year re-ignited an old debate.


Report: Top 10 Turbine OEMs Had Record Year In 2014

Preliminary findings suggest Vestas reigned supreme again among the world's leading wind turbine makers. How did some of the other OEMs fare?


AWEA's Gramlich To FERC: Additional Transmission Needed Regardless Of Clean Power Plan

To further build a more balanced and reliable electricity portfolio, the U.S. needs to build more transmission capacity.


Getting A Grip On Grinding Gearboxes: Why Such Events Need Not Be Showstoppers

Despite advances in gearbox reliability - namely, from condition monitoring systems and greater design standardization - challenges remain.


How Wind Energy Can Meet EPA Clean Power Plan Requirements

According to the American Wind Energy Association, wind power is a cost-effective solution for complying with the environmental effort.

Hybrid Energy Innovations 2015