Welch outlines steps to a green energy future

With escalating tension in the Middle East contributing to rising oil and gasoline prices, Representative Peter Welch today outlined a set of policy steps to help break America’s reliance on oil from countries hostile to American interests.
‘Events half a world away are hammering hardworking Vermonters and threatening a fragile economic recovery,’ Welch said. ‘The best way to break the cycle of surging oil prices is to chart a green energy future built on renewable energy and investments in energy efficiency.’
Welch outlined his four-step agenda at NRG Systems, a global leader in renewable wind technologies:
Extend the Production Tax Credit (PTC). The PTC provides a tax incentive to companies that generate wind, geothermal and other types of renewable energy. The credit expires at the end of 2012.Thanks to the PTC, Vermont was the second fastest growing state for wind installations in 2011 ‘ growing over 650%.
Reauthorize the 1603 grant program. Created under the American Recovery and Reinvestment Act, 1603 provides grant funding to renewable energy companies. The program expired at the end of 2011. Vermont has received $46.8 million under the 1603 program.
Fully fund the Energy Efficiency and Renewable Energy (EERE) Program. EERE provides funds to weatherize homes, reduce energy consumption of manufactured goods, improve fuel efficiency in cars and invest in renewable technologies. Welch is supporting the President’s requested 2013 EERE funding level of $2.3 billion.
Invest in energy efficiency. Welch is pushing his bipartisan Home Owner Managing Energy Savings (HOMES) Act, which will provide rebates to homeowners who invest in energy efficiency improvements.
NRG Systems CEO Jan Blittersdorf, who joined Welch for the announcement, said: ‘Failure to extend the Production Tax Credit now is a lost opportunity. It’s a lost opportunity to reduce dependence on fossil fuels, employ people, and own the technology.’
Welch was also joined Thursday by Martha Staskus, Chair of the Board for Renewable Energy Vermont and Sanjeev Choudhary, Vice President of Marketing and Business Development at Draker Labs.
Welch's office. 3.15.2012