Clean Energy Victory Bonds in GreenBiz.com
GreenBiz.com author Michael Kramer recently posted an article explaining the many benefits of Clean Energy Victory Bonds (CEVBs) and why we need them to advance renewable energy in the U.S. He accurately describes the problem with the current energy system; namely the big subsidies that oil and gas companies receive which make it difficult for renewables to compete. However, by providing tax incentives to renewable sources like wind and solar power, Kramer argues that we can spur private investment and make clean energy consumer friendly.
He also mentions some of the lesser-known benefits of the CEVB legislation, like the voucher for electric car purchases. This section of the bill will make a huge impact on reducing our dependence on fossil fuels. And, he notes, the most exciting part of the legislation is that it will be paid for by American citizens in the form of government issued bonds.
Thanks to Michael Kramer and GreenBiz for writing about CEVBs!