Jobs Summit 12/03/2009
Today, Thursday, December 3rd, our Co-Chairman Reed Hundt will be attending the White House Jobs Summit on behalf of the Coalition for the Green Bank. The attendees of the summit will be a select group of leaders and thinkers that include: Eric Schmidt, Google Randall Stevenson, AT&T Surya Mohapatra, Qwest Frederick Smith, Federal Express Brian Roberts, Comcast Bob Iger, Disney James McNerney, Boeing Andrew Livens, Dow Peter Solmssen, Siemens Stephanie Burns, Dow Corning Phaedra Ellis Lamkins, Green for All Reed Hundt, Coalition for the Green Bank Larry Mishel, EPI Alan Blinder, Princeton Paul Krugman, Princeton Joe Stiglitz, Columbia Bob Greenstein, Center on Budget and Policy Priorities Jeffrey Sachs, Columbia David Ickert, Air Tractor Woody Hall, Diversapack Rose Wang, Binary Group Anna Burger, Change to Win Leo Gerard, United Steel Workers Joe Hansen, United Food and Commercial Workers Randi Weingarten, AFT Mayor Frank Cownie, Des Moines, IA Mayor Julian Castro, San Antonio, Texas Mayor Ed Pawlowski, Allentown, PA The idea behind the summit is to draw some of the best thinking behind job creation in the US together, and the Coalition for the Green Bank fits this description perfectly. With our proposal for the inclusion of a Green Jobs Bank in any Jobs Bill that passes through Congress, the coalition is supporting both instant and long-term job creation in the clean energy sector. Efficiency/retrofit projects that can be deployed immediately combined with clean generation projects that are shovel-ready once affordable financing is provided are the two key means of job creation that the GJB will offer. A Jobs Bill that includes the Green Jobs Bank will uncork the deluge of investment that is backed up in the clean energy and efficiency/retrofit industries by lack of access to affordable capital. Investment in this high-growth sector will immediately create a rush of well-paying, long-term jobs that will build the base of the clean energy generation and efficiency/retrofit industry right here in the US, halting the flow of capital abroad to purchase the necessary elements of the clean energy supply chain and keeping that investment within our borders. And, by financing the manufacture of clean energy and efficiency/retrofit products, the Green Jobs Bank will be able to help fill the void left by the massive slump in the American domestic auto industry. The Green Jobs Bank is the complete package, and the best way to put Americans back to work in an industry that can last for generations, not just as a temporary fix. From "Clean Tech Job Trends 2009" 11/10/2009
"The Clean Energy Development Administration (CEDA), aka The Green Bank, is a relatively new concept for public clean-energy financing. Plans for CEDA are working their way through the U.S. House and Senate, via provisions in both chambers’ versions of pending energy legislation, and the idea has picked up considerable bipartisan support. The bank could fund a range of renewable energy, energy efficiency, and low-carbon solutions. And most important, the bank is projected to leverage public funding by a factor of 10 to 20, so $10 billion invested by the bank could result in $100-$200 billion in total public and private investment by utilizing traditional loans, loan guarantees, and credit enhancement provisions. While the concept of a green bank is new to energy, it isn’t new to the U.S. Similar government investments have supported private enterprise in the past, from the build out of railroads in the 19th century to the development of ARPANET, the precursor to the Internet. And there’s a rich history of quasi-governmental organizations that support investments, including the Export-Import Bank of the United States, the Overseas Private Investment Corporation, and the CIA’s not-for-profit venture capital arm In-Q-Tel." From: "Clean Tech Job Trends, 2009" http://www.cleanedge.com/reports/reports-jobtrends2009.php Posted by: Alex Kragie An Opportunity, not a Burden 10/28/2009
This is exciting folks! We are on the edge of a staggering wave of growth potential. This is a time of great opportunity for our country, the opportunity to: -Create Jobs: The clean energy industry produces 1 million new domestic jobs per $50 billion of investment according to the Center for American Progress -Drive Investment: $10 billion in spending by the CEDA/Green Bank projects to drive $200 billion in investment in the clean energy industry -Further National Security Objectives: A domestic clean energy industry would lessen our dependence on foreign sources of energy, which often come from countries at cross purposes with our objectives -Win the Next Great Global Challenge: China is investing $9 billion per month in clean energy according to Secretary Steven Chu, a figure that means the entire clean energy supply chain is in danger of becoming a source of foreign dependence for the US unless we act soon This is an opportunity, not a burden!!! Posted by Alex Kragie Momentum 10/19/2009
The Coalition for the Green Bank has seen tremendous growth in the recent months. We have gone from a core group of businesses interested in finding a way to finance the transition from carbon to clean to a group of 90 distinct businesses and 114 individual members, with more joining by the week. We have been to the offices of over 85 Senators to spread the word of the Green Bank and the importance of financing the transition to the clean energy economy, especially in the face of the strong efforts by China and others to assume the mantle of global leadership in this new rapid-growth and high-potential sector. And, as reported by Peter Behr in the New York Times, "of all the pieces of climate legislation before Congress this year, the most popular may well be proposals to create a federal bank to channel loans, loan guarantees and other financing to clean energy projects." The CEDA/Green Bank has been enthusiastically embraced by the House and the Senate, and the businesses that make up the coalition are thrilled at the enthusiastic reception that it has received as it has moved through the legislative process. The final step is getting an energy/climate change bill passed in the Senate. The coalition is proud to be supporting a piece of the legislative package that has such strong bi-partisan appeal and creates such enthusiasm among members of Congress. Every day we get closer to an overall bill that can pass the Senate and we look forward to a robust clean energy economy right here in the United States. -Posted by Alex Kragie The Race 09/18/2009
On Tuesday September 15, Thomas Friedman described the economic outlook of clean energy in the United States ("Have a Nice Day" http://www.nytimes.com/2009/09/16/opinion/16friedman.html). Friedman's column tells the story of Applied Materials, a member of the Coalition for the Green Bank. Applied Materials manufactures the machines that make microchips for computers. More, importantly, Applied Materials recently (2004) expanded its production to manufacture of machines that produce solar panels. The real point of the column is that, so far, Applied Materials has found next to no market for any sort of clean energy products in the United States. They have plants all over the world working to produce solar panels, but none here in the US. The simple reason behind this lack of investment is that the US government has yet to incentivize or spur the creation of a domestic clean energy industry in our country. Countries across the world (most notably China and Germany) are using low-cost financing and other financial incentives to facilitate the creation of clean energy industries within their domestic boundaries because they recognize, as Friedman puts it, "The world is on track to add another 2.5 billion people by 2050, and many will be aspiring to live American-like, high-energy lifestyles. In such a world, renewable energy — where the variable cost of your fuel, sun or wind, is zero — will be in huge demand." This is an exciting time for the country. We have the opportunity to create a completely new domestic clean energy industry that will comprise of generation, transmission and manufacturing. With this new economy come stable new jobs and an opportunity to seize global leadership in what will be one of the largest growth industries of the 21st century, the clean energy economy. But we risk falling behind the competition and losing this economic stimulus opportunity if we don’t take action to encourage the growth of this sector. The CEDA/Green Bank would provide the tool for financing the deployment of new American-generated clean energy. The low cost financing provided by the CEDA/Green Bank's guarantees would smooth the transition to the clean energy economy while keeping the cost to both consumers and shareholders at zero. Our Co-Chairman, Reed Hundt, knows something about the possibilities of American entrepreneurship and new technologies. As Chairman of the Federal Communications Commission (FCC) from 1993 to 1997, Hundt presided over the FCC during a time that saw the transition to wireless communication, setting the stage for an entirely new industry to be created and billions of dollars and millions of jobs to be realized. Today, we are in a similar situation, standing on the brink of incredible possibilities for clean energy technology in the United States. With a CEDA/Green Bank as part of an energy legislation package coming out of Congress, we would be in position to take leadership in the global market of clean energy. Posted by: Alex Kragie The Clean Energy Transition 08/28/2009
A recent article from Reuters (see bottom of post) highlights the lagging demand that the electricity-generation industry faces. Coal-fired facilities are being scaled down across the country, forced to cut back production spurred by a lack of demand caused by the recession. The drop in demand is largely due to weaker numbers from industrial electricity consumers, and this trend is projected to continue. There is no better time to replace the old methods of generation with renewable energy generation technologies. Demand will rise again when the economy rises, but now that we are in a low-tide of demand it is time to stabilize the moorings of the energy generation sector. There is a green-lining to this cloud: because of reduced demand for electricity, the time has never been better to make the easiest possible shift from carbon to clean energy generation. This painless transition would be enabled by the CEDA/Green Bank, which, by lowering the cost of debt, will enable retail electricity rates to remain stable and shareholders to be held harmless during this shift. Millions of jobs will be created during this transition, and we will stabilize and expand the generation, manufacturing and transmission industries in the United States. There is no question that there will be a shift towards a more renewably focused energy industry in the United States, it is simply a question of whether we will take decisive action to make a seamless transition or if we will risk losing the entire renewable energy value chain to China. Posted by: Alex Kragie http://www.reuters.com/article/GCA-BusinessofGreen/idUSTRE57Q43O20090827 Recess 08/13/2009
It's August in Washington, DC and the Senate is on recess, back at home taking the temperature of their constituents. This is an excellent time for action. Let Congress know that you want Energy Legislation that has the four elements of the strongest possible job-creation engine that Congress could produce: -Renewable Electricity Standards to create demand for renewable energy -Transmission legislation that assures that supply comes from optimal locations -A CEDA/Green Bank that finances new renewable energy supply without raising prices to consumers or hurting shareholders -Caps that guarantee that utilities phase out the dirtiest power first Call or write your Senators, let them know that you want Energy Legislation that works for all Americans. Posted by: Alex Kragie Low-Cost Financing in China 07/31/2009
On Tuesday, China announced plans to offer significant subsidies to solar energy projects all across the Asian nation. China is among the countries that has used low-cost financing to spur domestic renewable energy production. At its current rate of progress, China is on pace to become the world leader in every sector of renewable energy production. Global leadership in the 21st century will be measured by many standards, but in the field of renewable energy the United States is in desperate need of the jump start that a Clean Energy Deployment Administration/Green Bank would provide to the currently depressed sector. China is rapidly moving towards energy independence, and energy independence for any country is aligned with economic and national security interests. The United States needs to move to the forefront of the global community in renewable energy generation, and creating a CEDA/Green Bank would be a giant step towards doing so. Posted by: Alex Kragie Well Said 07/22/2009
Governor Jon Corzine of New Jersey testified before the Senate Committee on Environment and Public Works today, and had the following to say about the Green Bank: Stimulus Pt. II 07/14/2009
|
RSS Feed