ROCHESTER HILLS, Mich., Jan. 21 /PRNewswire-FirstCall/ -- Energy Conversion Devices, Inc. (ECD) (Nasdaq: ENER), the leading global manufacturer of thin-film flexible solar laminate products for the building integrated and commercial rooftop markets, commented today on the letter sent by Congressman Chris Van Hollen to President Obama urging the President to include creation of a Green Bank in the Jobs Bill.

In his letter to President Obama, Congressman Van Hollen proposed the creation of a "Green Bank" separate and apart from the existing bureaucracy of government, similar to the Clean Energy Deployment Administration included in the House-passed American Clean Energy and Security Act, and mandate that the Green Bank support private investment in conventional, job-generating retrofit and clean energy projects across every state in America.

Congressman Van Hollen also noted, "A Green Bank could be capitalized on a one-time basis with $20 billion and never need another dime from government. With an annual budget of less than $200 million and several hundred employees, it could cause more than $200 billion in new private sector investment, propel economic growth and create more than two million good-paying jobs over the next three years. Most importantly, it could launch a new era of broadly shared prosperity in a way that permanently strengthens our national security."

"We continue to be very appreciative of the Obama Administration's efforts to support American clean technology," said Mark Morelli, ECD President and CEO. "As part of the effort to support clean energy and clean technology development, we support Congressman Van Hollen's request that the Green Bank be created and implemented quickly. The most efficient way to do this is in the Jobs Bill. Our American clean technology and clean energy industries need immediate and visible support to continue the recovery that has begun with the stimulus programs.  The Green Bank will be a critical partner with private industry to deliver on the promise of job creation and energy independence."

About Energy Conversion Devices

Energy Conversion Devices is a leader in building integrated and rooftop photovoltaics. The company manufactures, sells and installs thin-film solar laminates that convert sunlight to energy using proprietary technology. ECD's UNI-SOLAR® brand products are unique because of their flexibility, light weight, ease of installation, durability, and real-world efficiency. Through its Solar Integrated Technologies business, the company also designs, manufactures and installs rooftop photovoltaic systems which enable customers to transform unused space on the rooftop into a value-generating asset. For more information, please visit www.energyconversiondevices.com.
 
 
This morning, Rep. Chris Van Hollen sent a letter to President Obama advocating for the inclusion of an independent, conventionally focused Green Bank for inclusion in any Jobs Bill. You can find the full text of the letter in the Downloads/Additional Information section of the site.

Rep. Van Hollen is and has been an exceptionally strong leader on clean energy issues, and we're very happy to have such a gifted legislator leading the charge towards millions of new jobs, energy independence and the transition from carbon to clean.

-Posted by Alex Kragie
 
2010 01/06/2010
 
As 2010 begins, Congress is presented with a tremendous opportunity to dramatically improve the future of the clean energy industry in the United States. Before the year is out, we have the opportunity to include mechanisms for financing energy efficiency and conventional energy projects in the Senate version of the upcoming Jobs Bill, the House version of the upcoming Jobs Bill and a final Energy/Environment Bill in the Senate. By providing low-cost financing for these projects, we can leverage public funds to stimulate private investment in the clean energy sector, creating millions of jobs. As we move into the new year, we need your help to make sure that Congress hears you. You can make your voice heard through four easy steps:

1. Go to http://www.senate.gov/general/contact_information/senators_cfm.cfm

2. Find your Senator's contact info on the easy to use list and click on the link under their name that says "Webform"

3. Tell your Senators that you want to see the future of the clean energy industry in America ensured through the passage of a comprehensive Energy and Environment bill in the US Senate

4. Then tell your Congressman to be sure to include the Green Bank/CEDA in any House Jobs Bill at https://writerep.house.gov/writerep/welcome.shtml

We'd also like to hear your ideas directly. Send me an email at coalitionforthegreenbank2010@gmail.com, and let me know what you're thinking. Best practices, suggestions, comments; feel free to get in touch with me with your thoughts.

Happy New Year to you and your family, and let's help make this the year that we secure our domestic clean energy future here in the United States.

Alex

-Posted by Alex Kragie