March 4, 2008
Renewable Energy Tax Package Will Save Consumers Money, Boost Economy, Create Jobs, Says Business-Consumer Coalition
More than 100 Retailers, Manufacturers, Trade Groups and Advocacy Organizations Call on Senate to Pass Legislation
WASHINGTON (March 4, 2008) -- A coalition of more than 100 business, trade and advocacy groups today called on the U.S. Senate to pass bipartisan legislation as soon as possible that extends renewable energy and efficiency tax credits that have already expired or will expire at the end of this year. The tax incentives would strengthen the renewable energy industry and expand the market for energy-efficient products, which ultimately would reduce residential and commercial energy costs, generate new domestic jobs, and boost a flagging economy, according to the coalition.
"Renewable energy sources like solar and wind are a proven economic engine for our country. They've created tens of thousands of green collar jobs and billions of dollars in investment," said Rhone Resch, president of the Solar Energy Industries Association. "Congress and the administration should seize this opportunity to support this high-growth sector."
The business-consumer coalition includes 47 manufacturers, including Dow Chemical, DuPont, Owens Corning and Whirlpool; eight retailers, including Best Buy, Home Depot, Lowe's and Wal-Mart; 23 trade associations, including the Association of Home Appliance Manufacturers, the National Association of Homebuilders and the National Small Business Association; 25 advocacy groups, including Environment America, Natural Resources Defense Council, Sierra Club and Union of Concerned Scientists; and 10 utilities, including Constellation Energy, Exelon and Florida Power & Light. (For a complete list of the 114 coalition members, go to the bottom of this release.)
Historically, Congress has extended clean energy tax incentives in only two-year increments, creating a boom-bust cycle that impedes industry development. The ideal Senate tax incentive package, the coalition said, would extend incentives for wind, solar and biomass for a number of years to provide the stability financial investors need to back new projects.
In addition to extending tax credits for renewable energy sources, the coalition urges the Senate to extend tax incentives for constructing energy-efficient buildings, investing in solar electric systems, installing efficient home heating and cooling equipment, manufacturing efficient home appliances, and retrofitting existing homes to save energy.
"Our nation's buildings account for 70 percent of our nation's electricity use, and that's why these incentives are vitally important to deploy energy-efficient designs, technologies and equipment," said R.K. Stewart, former president of the American Institute of Architects. "The end result is that we would get the most energy-conserving buildings possible, which means reduced utility bills for businesses and homeowners, and lower overall energy demand across the nation."
Jeffrey D. DeBoer, president and CEO of the Real Estate Roundtable, a policy organization that represents the commercial real estate industry, agreed. "By extending energy tax incentives, Congress will be encouraging the rapid rollout of a new generation of high performance, energy-efficient green buildings," he said. "With energy prices soaring, passing these incentives is just common sense and key for any credible energy policy."
Steven Nadel, executive director of the American Council for an Energy-Efficient Economy (ACEEE), also pointed out that an ACEEE analysis found that extending the energy efficiency provisions would add roughly 15,000 jobs to the U.S. economy, considering both added jobs in the energy efficiency and service industries and lost jobs in the traditional energy industries.
Members of the Retail Industry Leaders Association (RILA) also see major benefits to extending the incentives. "These energy tax credits encourage the construction of 'green' buildings and the use of solar technology, all practices engaged in by RILA member companies," said Lori Denham, RILA executive vice president for government affairs and industry operations. "Furthermore, these credits encourage consumers to purchase energy-efficient products, such as appliances, which save on energy costs and reduce overall consumption."
Joseph M. McGuire, president of the Association of Home Appliance Manufacturers explained how the incentives for manufacturers would make it easier for them to market super-efficient clothes washers, refrigerators and dishwashers. "The incentives will accelerate design, production and market acceptance of highly efficient appliances, potentially saving consumers $33 million per year in electricity, gas and water costs and $360 million over the life of those appliances," he said.
Besides the economic rationale for supporting the incentives is the pressing need to address global warming, said Marchant Wentworth, a clean energy advocate at the Union of Concerned Scientists. "We don't have to choose between the economy and the environment," said Wentworth. "Extending these tax credits will help stimulate the economy and protect public health and the planet at the same time."
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CONTACT:
American Council for an Energy-Efficient Economy, Glee Murray, 202-429-8873 x712, www.aceee.org
American Institute of Architects, Scott Frank, 202-626-7467, www.aia.org
Association of Home Appliance Manufacturers, Jill Notini, 202-872-5955 x318, www.aham.org
Environment America, Sean Garren, 202-683-1250 x332, www.environmentamerica.org
Natural Resources Defense Council, Jessica Lass, 202-468-6718, www.nrdc.org
The Real Estate Roundtable, Scott Sherwood, 202-639-8400, www.rer.org
Retail Industry Leaders Association, Brian Dodge, 703-600-2017, www.retail-leaders.org
Solar Energy Industries Association, Monique Hanis, 202.682.0556 x4, www.seia.org
Union of Concerned Scientists, Emily Robinson, 202-331-5427, www.ucsusa.org
COALITION MEMBERS:
Retailers
Best Buy Co., Inc.
The Home Depot, Inc.
Lowe's Companies, Inc.
Macy's Inc.
Safeway, Inc.
Target Corporation
Wal-Mart Stores, Inc.
Whole Foods Market, Inc.
Manufacturers
Abengoa Solar
Akeena Solar
Ameresco
Applied Materials, Inc.
Apricus Inc.
Ausra, Inc.
Ballard Power Systems
BrightSource Energy
Conenergy
The Dow Chemical Company
DuPont
Energy Conversion Devices
Energy Innovations, Inc.
EPV Solar
Fuel Cell Energy
GridPoint
Hydrogenics
Johnson Matthey
Millennium Cell, Inc.
Mitsubishi Electric & Electronics USA, Inc.
MMA Renewable Ventures, LLC
Oerlikon
Owens Corning
Plug Power, Inc.
PPG Industries
Q-Cells AG
REgrid Power
ReliOn
SANYO Energy (U.S.A) Corporation
SCHOTT Solar, Inc.
Schuco USA LP
Sharp Solar
SkyFuel Inc.
Solar Integrated
Solar Millennium LLC
Solar Power, Inc.
Solar World
SOLEC-Solar Energy Corporation
Spire Solar, Inc.
SunPower Corporation
Suntech America, Inc.
Trane
Trinasolar
United Solar Ovonic
United Technologies Corporation
Whirlpool Corporation
USA Biomass
Trade Associations
American Institute of Architects
American Wind Energy Association
American Society of Heating, Refrigerating and Air-Conditioning Engineers, Inc.
Association of Home Appliance Manufacturers
Building Owners and Managers Association International
Business Council for Sustainable Energy
California Solar Energy Industries Association
CCIM Institute
Institute of Real Estate Management
Insulating Concrete Form Association
International Council of Shopping Centers
North American Insulation Manufacturers Association
National Association of Home Builders
National Association of Industrial and Office Properties
National Association of REALTORS
National Electrical Manufacturers Association
National Small Business Association
Northeast Public Power Association
Polyisocyanurate Insulation Manufacturers Association
The Real Estate Roundtable
Retail Industry Leaders Association
Solar Energy Industries Association
US Fuel Cell Council
Advocacy Groups
Alliance to Save Energy
American Council for an Energy-Efficient Economy
American Council on Renewable Energy
American Rivers
Audubon
Climate Solutions
Earthjustice
Environment America
Environmental and Energy Study Institute
Environmental Law & Policy Center
Friends Committee on National Legislation
Friends of the Earth
Greenpeace
National Tribal Environmental Council
National Wildlife Federation
Natural Resources Defense Council
New Voice of Business
Physicians for Social Responsibility
Public Citizen
Sierra Club
Southern Alliance for Clean Energy
Union of Concerned Scientists
Western Organization of Resource Councils
Western Renewables Group
The Vote Solar Initiative
Union
The United Steelworkers
Utility
California Energy Commission
Constellation Energy
Exelon Corporation
Florida Power & Light Company
Great River Energy
PG&E Corporation
PPM Energy, Inc.
Sacramento Municipal Utility District
SunEdison
Xcel Energy Company
The Union of Concerned Scientists is the leading U.S. science-based nonprofit organization working for a healthy environment and a safer world. Founded in 1969, UCS is headquartered in Cambridge, Massachusetts, and also has offices in Berkeley, Chicago and Washington, D.C.
