FOR IMMEDIATE RELEASE
February 3, 2015
Contact: Laura Tierney
Email: [email protected]
Statement on President’s FY 2016 Budget
Clean Energy Industries Support Commitment to Clean Energy
Washington, DC — The Business Council for Sustainable Energy (BCSE) released the following statement from President Lisa Jacobson in reaction to the release of the President’s FY 2016 Budget:
“The Business Council for Sustainable Energy supports the President’s strong commitment to clean energy programs as reflected in his FY 2016 Budget, including funding for clean energy technologies, funding to reduce greenhouse gas emissions from power plants, and clean energy tax provisions.”
Tax provisions of note include credits for energy efficiency, carbon capture and storage, advanced energy manufacturing projects, and the permanent extension of the production tax credit for clean energy technologies including wind, hydropower, and geothermal energy; and for the first time a proposal for a permanent extension of the investment tax credit for clean energy technologies such as solar, fuel cells and small wind.
“Sustained federal investments in clean energy programs are leveraging private dollars and are benefiting taxpayers and the economy. For three years now the Sustainable Energy in America Factbook, which is produced by BCSE and Bloomberg New Energy Finance, has documented the growth of clean energy. According to the latest edition of the Factbook, which will be released this week, $51.8 billion was invested in clean energy in the United States last year. That represents a 7% increase from 2013 levels. And since the year 2000, 93% of new power capacity built in the U.S. has come in the form of natural gas, wind, solar, biomass, geothermal, or other renewable projects.
“The Factbook also shows that the US economy is becoming less energy-intensive; in fact, there has been an outright decoupling between electricity growth and economic growth. Between 1950 and 1990, for example, electricity demand grew at an annual rate of just below 6%. Between 1990 and 2007, it grew at an annual of 1.9%. Between 2007 and 2014, annualized electricity demand growth has been flat.
“BCSE was also pleased to see that the President pledged $3 billion to the Green Climate Fund (GCF), which is a new, independent institution, designed to fund and finance both mitigation and adaptation projects in developing countries. The Fund will create new market opportunities for American clean energy companies and enable American businesses to provide U.S. technology and innovation to developing countries.
“We are pleased to see that clean energy and climate mitigation remain a clear priority for the Administration and we welcome the opportunity to work with Congress to pass a budget to continue the growth of these technologies.”
Download the full press release.