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Klobuchar Announces Federal Legislation for More Renewable Energy

Renewable energy investments will promote economic growth and job creation

January 14, 2008

Maple Grove, MN – In front of a new 150-foot wind energy turbine at the new headquarters of Great River Energy, Minnesota’s second largest electric utility, U.S. Senator Amy Klobuchar announced that she is introducing major new federal legislation to promote further development of wind power and other renewable energy sources in Minnesota and nationwide.

Klobuchar also emphasized that the legislation would create new opportunities for economic growth, with “clean technology” businesses and “green-collar” jobs.

“As we rightfully debate the details of an economic stimulus package in the coming weeks,” Klobuchar said, “we must also focus on long-term policies to spur economic growth and jobs.  While I support middle-class tax relief, we also need policies to promote job growth and a stronger economy for the long term.  This package of renewable energy incentives does that.”

When the Senate reconvenes later this month, Klobuchar said she will introduce the “American Renewable Energy Act.”  The legislation includes two key provisions: 

First, it will create strong, consistent incentives for private sector investment in renewable energy by extending the federal Production Tax Credit for five years.  It is otherwise set to expire at the end of 2008.  The Production Tax Credit applies to electricity generated from certain renewable energy sources, including wind and solar.  To pay for the additional renewable energy tax credit, Klobuchar’s legislation would rollback several tax giveaways to major oil companies.

A second key provision of the legislation will establish an aggressive, nationwide standard that requires utility companies to produce at least 25 percent of their electricity from renewable sources by the year 2025.  This “25 x 25” national standard would be similar to the Minnesota renewable electricity standard passed by the state legislature last year and signed into law by the Governor.

 

“The combination of a nationwide renewable electricity standard and a strong package of tax incentives will promote new jobs and business opportunities while also moving our nation onto a cleaner, more secure energy path,” said Klobuchar.  “Minnesota is already a leader in the renewable energy revolution that’s just beginning to emerge.  As this revolution advances, I want our state to stay a leader.”

 

Industry leaders praised Klobuchar’s legislation.

 

David Sparby, the President of Northern States Power Company, an Xcel energy affiliate commented stating, “The Minnesota congressional delegation has always been among those leading the way to ensure the development of clean energy sources.  We applaud Senator Klobuchar for continuing that tradition with this newest initiative.”

 

This legislation is about jumpstarting our economy with green-collar jobs---green for the environment, and green for the money there’s to be made in remaking our energy economy with efficiency and renewables,” said Michael Noble, Executive Director with FRESH Energy.

 

“Senator Klobuchar’s legislation will be the most important job creating legislation heard by this session of Congress,” said Dave Foster, Executive Director of the Blue Green Alliance.  “It has the potential to revitalize American manufacturing and create hundreds of thousands of new jobs.”

 

Lisa Jacobson, Executive Director of the Business Council for Sustainable Energy, praised Klobuchar’s proposal stating, “Passage of a comprehensive set of policies to accelerate renewable energy now is essential to making a down payment on greenhouse gas reduction, alleviating our energy security challenges and creating new high quality clean tech jobs in the US.  The Council applauds Senator Klobuchar for leading this urgent effort.”

 

Gregory Wetstone, Senior Director of Governmental and Public Affairs for the American Wind Energy Association, commented,  “Senator Klobuchar’s American Renewable Energy Act includes key policies that will increase wind energy production in the United States.  In doing so, her bill will mean more American jobs and economic growth, improved energy security, and a cleaner environment.  AWEA and our 1,200 member companies applaud her for her vision and leadership.”