How can those of us who aren’t able to install solar panels support solar power? Clean Energy Victory Bonds (CEVBs) offer one opportunity.
CEVBs are yet another fresh idea that’s come out of the clean energy sector. CEVBs would act as US Treasury bonds that enable renewable energy investment. “Green bonds” would spur investment in everything from electric cars to energy efficiency to the development of wind farms.
Like me, many supporters of clean energy rent. Others live on shaded property or know they’ll move within a decade or two. In fact, 75% of Americans aren’t able to add solar panels where they live. CEVBs would allow us to boost green innovation in America for as little as $25 per bond.
Our friends at Solar Gardens explain:
CEVBs will extend proven programs like the Investment Tax Credit (ITC) for a decade. Now, that’s huge. All over the country, renewable energy advocates have been fretting about what will happen when the ITC runs out at the end of 2016. Extending it would provide a welcome boost to solar and other clean power sources.
Rosana Francescato broke down some of the added benefits of the proposed bonds (her words, my emphasis):
New jobs: The investments in clean energy supported by CEVBs are expected to create at least 1.7 million well-paying jobs in the U.S.
Increased national security: Creating and sustaining our own energy supply instead of depending on foreign sources of energy will enhance our national security.
Energy savings: Clean energy investments should bring savings to consumers, since these energy sources are free from the volatility that characterizes the fossil fuel market. The U.S. economy will also be protected from fossil fuel price increases.
A competitive edge for the U.S.: Investing in clean energy at home can help us “win the renewables race” with China and other countries, and put the U.S. in the lead among countries moving forward in clean energy innovations.
Lower health costs: Cleaner energy means reduced pollution, which would reduce U.S. health care costs by billions of dollars a year.
What do you think about “green bonds?” Share your thoughts below or shoot us an email. We’d love to hear your insights.