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We are at a cross roads in human history, we can choose to continue on as we have been, or we can make a change to improve our future and quite possibly the future for several generations to come. We are here to promote energy independence, a better environment, a secure future and a higher return on investment for your hard earned dollar. It is what I believe in, it is why I am in the solar business.

House passes Energy Bill, Bush promises veto

07 Dec 07 | Commentary

Update: Since this post, dated December 7, 2007, congress has made two more attempts to pass some sort of renewable energy legislation.  This bill and the subsequent bill failed in the Senate.  The Current bill, H.R. 5351 has passed the house and is on its way to the Senate as of February 28, 2008.

The same players that blocked the last two bills are still in place in the Senate.  Therefore it remains to be seen if this will even make it to the President’s desk for signing.

Stay tuned.

The house passed the 2007 energy bill last Wednesday. The bill features some very favorable solar and wind power incentives as well as minimum gas mileage standard for cars, SUVs and light trucks (known as CAFE). Here are some of the highlights:

  • Increases the efficiency of vehicles to 35 miles per gallon by 2020, for the first time in a generation;
  • Makes an historic commitment to American-grown biofuels;
  • Requires for the first time that 15 percent of our electricity come from renewable sources;
  • Improves energy efficiency of a wide range of products, appliances, lighting and buildings; and
  • Invests in clean renewable and alternative energy tax incentives to build viable markets and create jobs.

For more specifics you can read the whole thing here.

One very exciting thing is the continuation of tax credits for installation of residential solar and fuel cells. This was set to expire at the end of 2008, however this legislation seeks to extend that to 2016. Also, the tax credit cap, which was initially set at $2,000 has been increased to $4,000.

Naturally, there are detractors of this bill. The Senate is attempting to pass its own very weak version of this legislation, with Senator Pete Domenici (R-NM) leading the charge to gut all of the important parts of the bill (If you live in New Mexico, give your senator a call, let him know how you feel).

As far as the cost of this bill, if I read the document correctly, it looks like the total cost would be 16.2 billion dollars, much of which would be offset by repealing several subsides to big oil companies. The total tax burden would be around 6 billion.

A few months ago, former chairman of the Federal Reserve System, Alan Greenspan, admitted that the Iraq war was more or less about oil. Therefore, it is fair to compare the cost of renewable energy implementation to the Iraq war. Currently, the Iraq war costs us about 1.4 billion dollars per week. So far the total tab is around 475 Billion dollars with no end is sight. Several economist estimate that before it is all over, the cost will be around 1.2 Trillion dollars.

bush

Even if the bill gets through the Senate unscathed, Mr. Bush as already promised to veto it.

Because, why, when oil is between $90-100 dollars a barrel, gas is running $3.20-3.50 a gallon, diesel and heating oil are well above $3.00 a gallon, would we possibly want to pass legislation that would curb our oil use? What are we, stupid? Perhaps crazy? I mean, I love spending my paycheck at the gas station. It makes me feel good to know that the money that is supposed to go toward my daughter’s college education is being used to buy heating oil. I feel like I am really doing my part to pay the CEO of Exxon Mobile’s annual bonus and at the same time, pumping tons of CO2 into the atmosphere. After all, we don’t want the world to get colder, do we?

I would also like to add I am proud to be an American!

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07 Dec 07 | Commentary
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