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Proposed Bill Extends Renewable Energy Funding for Solar into 2012

A new bill, titled Renewable Incentive Act (S 2899), has been proposed by Sen. Dianne Feinstein (D-CA) and Sen. Jeff Merkley (D-OR) to extend ARRA funding for renewable energy projects into 2012, rather than killing the program in 2010. Also included in the bill is a change to current regulations to include public utility providers in ARRA funding.

The driving reason behind the proposal of the bill is to continue the creation of green jobs until a true thaw in other funding avenues occurs, as most construction will not be completed prior to the expiration of the ARRA funding.

The bill will allow public utility providers to apply for treasury grants, and Feinstein states that these companies already provide power to as many as 45 million Americans. Also included in the bill is expanded funding to encompass solar hot water heaters for commercial and residential applications, including swimming pools. Prior to the ARRA of 2009, major solar projects were shelved due to complicated private sector financing between banks and solar companies, wherein the banks charged a fee and essentially helped make the venture profitable.

Perhaps most important are the environmental benefits. The bill seeks to direct funding toward “disturbed private lands,” rather than virgin wildlife areas like the Mojave desert. In essence, the acquisition of high solarity areas such as defunct factories and mines, or other already-developed areas will be supported by the ARRA. It is currently difficult to obtain large blocks of developed land due to the hassles of buying from many different owners and the high costs involved.

I’m in favor of the bill, since many of the pristine areas developed into renewable energy fields often strip the land of its ecology in order to develop it. Furthermore, using already-developed land is a way to locate these facilities closer to the population centers and existing grids that serve them, saving excess development.

I think allowing the public utilities access to these funds could spur development much faster than what we see today. Yes, the small guy will have to get wise quickly and begin working with them, but such is American economy. Also, higher dollar projects create higher dollar jobs, or at least more lesser-dollar jobs and that is sorely needed. Beyond that, extending the funding to 2012 is just brilliant. I can’t think of a better way to pull America through the recession without resorting to historical means, such as warfare and the manufacture of the materials for it.

Source: CommonDreams.org and Sen. Feinstein’s site

Photo Credit: Sierra Eye

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