Tuesday, June 15, 2010

Washington, D.C. – Congresswoman Dina Titus of Nevada’s Third District released a report today prepared by the House Energy and Commerce Committee on the significant impact that clean energy legislation would have on Nevada’s economy.  Last year, the House passed the American Clean Energy and Security Act (ACES) which provides for critical investments in clean energy.  The Energy and Commerce Committee report provides important details on the extent of the impact of the bill, finding it will create jobs in Nevada and spur economic development.  The release of the report comes after Titus hosted a round table discussion with local businesses and leaders in the clean energy field to discuss the findings and additional efforts to strengthen and grow Nevada’s economy through renewable energy.

“ACES will help the U.S., and Nevada in particular, become a leader in the field of renewable energy by creating new clean energy jobs that can’t be shipped overseas,” Congresswoman Titus said.  “This new report underscores the extent of the positive impact this legislation will have on our economy by investing millions of dollars in new clean energy and energy efficiency technologies, such as solar, wind, carbon capture and storage, and advanced vehicle technology.  With high unemployment and the need to diversify our economy, ACES provides the framework to build a new clean energy economy that will put Nevadans back to work.”

The American Clean Energy and Security Act reduces carbon emissions from major U.S. sources by 17 percent by 2020 and over 80 percent by 2050 compared to 2005 levels.  It also promotes the development of clean, renewable energy by establishing a renewable electricity standard that requires electric utilities to meet 20 percent of their electricity demand through renewable energy sources by 2020.  Finally, it invests $580 million in clean energy programs in Nevada by 2020.

According to the Energy and Commerce report, comprehensive clean energy policy will strengthen Nevada’s economy by creating between 9,000 and 17,000 jobs by 2020.  Nevada’s gross domestic product will also increase by $500 million to $1.1 billion.  Through ACES, Nevada will receive:

• $25 to $35 million annually in carbon allowances for projects that improve energy efficiency, deploy renewable energy and smart grid technologies, or reduce transportation-related emissions.
• $10 to $15 million annually for renewable energy manufacturing and deployment allowing Southern Nevada to not only become a leader in renewable energy generation, but in clean energy manufacturing as well.
• $15 to $20 million per year to improve the energy efficiency of buildings through the implementation of building energy codes, building retrofit assistance, and upgrades of manufactured homes.
• $10 to $15 million per year to help adapt to climate impacts that are already occurring or expected to occur for things like agriculture and water management and protection of wildlife and natural ecosystems.
• $5 to $10 million annually for local government in Nevada annually for energy efficiency programs and the deployment of local renewable energy technology.

The full text of the report is available here.

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Tags: economy, energy, jobs