According to the US Energy Agency, Obama's green stimulus is working.
New figures show US carbon emissions will be 1.3% lower than previously expected by 2013 as a result of the stimulus
package.
The extension of the energy tax credits under president Obama's stimulus package is already having a positive effect on
the US energy sector and should result in a huge boost in wind energy capacity over the next three years..
The Department of Energy's statistical agency released an update to its Annual Energy Outlook this month that took
account of the American Recovery and Reinvestment Act (ARRA), along with the impact of the economic downturn on the
US energy sector.
The new report said that the extension of tax credits for renewable projects has already stimulated renewable energy
investment.
It predicted that by 2012, wind generation will total 201 billion kilowatt hours, compared with a projected 86 billion kilowatt
hours if the stimulus package had not been introduced. It also warned that the rate of growth will slow after the tax credits
expire in 2012, but that overall by 2030, the US will have two thirds more wind generation capacity than it would have had
if the ARRA had not been implemented.
The outlook predicted that wind will continue to dominate the US renewables sector, but calculated that biomass capacity
will also be 18 per cent higher in 2030 under ARRA than in a non-ARRA scenario, while geothermal capacity in 2013 will
be 16 per cent greater under ARRA than without the stimulus plan.
Carbon emissions will also be 1.3 per cent lower in 2013 than previously expected as a result of the contributions that the
stimulus package makes to renewable energy, according to the report.
.
New figures show US carbon emissions will be 1.3% lower than previously expected by 2013 as a result of the stimulus
package.
The extension of the energy tax credits under president Obama's stimulus package is already having a positive effect on
the US energy sector and should result in a huge boost in wind energy capacity over the next three years..
The Department of Energy's statistical agency released an update to its Annual Energy Outlook this month that took
account of the American Recovery and Reinvestment Act (ARRA), along with the impact of the economic downturn on the
US energy sector.
The new report said that the extension of tax credits for renewable projects has already stimulated renewable energy
investment.
It predicted that by 2012, wind generation will total 201 billion kilowatt hours, compared with a projected 86 billion kilowatt
hours if the stimulus package had not been introduced. It also warned that the rate of growth will slow after the tax credits
expire in 2012, but that overall by 2030, the US will have two thirds more wind generation capacity than it would have had
if the ARRA had not been implemented.
The outlook predicted that wind will continue to dominate the US renewables sector, but calculated that biomass capacity
will also be 18 per cent higher in 2030 under ARRA than in a non-ARRA scenario, while geothermal capacity in 2013 will
be 16 per cent greater under ARRA than without the stimulus plan.
Carbon emissions will also be 1.3 per cent lower in 2013 than previously expected as a result of the contributions that the
stimulus package makes to renewable energy, according to the report.
.
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