Renewables Industry Disappointed with Proposed American Power Act

On Wednesday, Senators John Kerry (D-MA) and Joe Lieberman (I-CT) released the details of their energy and climate change legislation. The bill includes few provisions designed to directly support renewable energy. These provisions include a statement from Congress on the importance of large-scale deployment and accelerated progress in the areas of renewable energy and energy efficiency, direction for how the allowances distributed to states and Indian tribes should be used for the purposes of promoting renewable energy and energy efficiency programs, and a statement supporting voluntary renewable energy markets.

Noticeably absent from the package was either a renewable portfolio standard, or renewable electricity standard, which the industry has been lobbying for over the course of the last year.

This is in direct contrast to bills introduced over the last year. President Obama's proposal called for 25% renewable electricity by 2025, 100% new building efficiency by 2030 and the phase-out of traditional incandescents by 2014. The Waxman/Markey bill mandated 15% renewable electricity with an added 5% efficiency by 2020, 75% new building efficiency by 2030, as well as appliance and lighting efficiency standards.

Overall, however, the bill may indirectly benefit the industry through the reduction of emissions. The bill mandates that utilities, starting in 2013 and other industries in 2016, must participate in a cap and trade system that places a price on carbon. The goal of these measures is to reduce economy-wide global warming pollution to 95.25 percent of 2005 levels by 2013, 83 percent by 2020, 58 percent by 2030, and 17 percent by 2050. 

Source: Renewable Energy World   Read the full article here.