Tuesday, December 18, 2007
Congress Approves Auto Fuel Economy Increase And More CleanTech Initiatives
Alternative energy and renewable energy technology represent an enormous disruptive opportunity.
Groundbreaking Energy Bill opens up the door for many CleanTech opportunities.
Congress sent to President Bush a truncated, although no less dramatic, energy bill that will require an increase in the fuel efficiency of cars, SUVs and small trucks by 40 percent to 35 miles per gallon by 2020.
Those old-fashioned 100-watt incandescent light bulbs in stores will soon be replaced by 2012, and labels on TVs and computers will tell you how much energy they consume.
The energy bill, which also calls for a huge increase in the use of ethanol as a motor fuel and requires new appliance efficiency standards, was approved by the House 314-100 after clearing the Senate last week, 86-8.
The American Council for an Energy-Efficient Economy has projected that the bill will reduce energy use by 7% and carbon dioxide emissions by 9% in 2030.
The bill has incentives for electricity infrastructure, carbon capture, renewable energy, electric vehicles, and energy efficiency.
In a significant shift to spur increased demand for nonfossil fuels, the bill requires refiners to use 36 billion gallons of ethanol by 2022, a six-fold increase over today's ethanol production. And it imposes new energy efficiency standards for refrigerators, dishwashers and other appliances as well as lighting, federal buildings and construction of commercial buildings.
I previously discussed what opportunities await for energy efficiency.