We Need a Stimulus Package for Renewable Energy

With the continued economic downturn, volatile stock market, rising unemployment, and record-low consumer spending, we need some stimulating answers in the 2009 stimulus package. And, with recessions being declared abroad, governments around the world are considering their options with their own stimulus package.

The answer – tackling the recession and global warming with a stimulus package for renewable energy. It’s the perfect domino effect; creating jobs in the renewable energy field will eventually impact and reduce global warming.

The price tag on President Obama’s stimulus package is $825 billion total. Of that, $54 billion is set aside to encourage energy production from renewable sources.

Breaking down the $54 billion budget

• $32 billion to transform the nation’s energy transmission, distribution, and production systems by allowing for a smarter and better grid and focusing investment in renewable technology.
• $16 billion to repair public housing and make key energy efficiency retrofits.
• $6 billion to weatherize modest-income homes.

The goal: “To put people back to work today and reduce our dependence on foreign oil tomorrow, we will strengthen efforts directed at doubling renewable energy production and renovate public buildings to make them more energy efficient.”

Source: Committee on Appropriations: January 15, 2009

Stabilizing global climate crisis

The recession is global; the general consensus is that if governments around the world include green energy incentives into their stimulus packages it should help stabilize the economy, bolster unemployment by creating new jobs, protect the environment, and help reduce the growing climate crisis.

Large-scale investment in renewable energy give countries such as the U.S., Germany, China, and the UK energy independence from oil and gas imports as well as reduce greenhouse gases. It’s a win-win situation that protects us today as well as our future and future generations to come.

Globally, there is a huge opportunity here. This is the fork in the road, the turning point – whatever you want to name it … the recession, coupled with the climate crisis, is pushing us to get off the fence and finally make big changes toward clean energy.

Posted on February 2nd in Solar Politics by Beth.