The Department of Energy's Energy Information Administration (EIA) has released its updated 2009 Energy Outlook Report to assess the impact of the American Recovery and Reinvestment Act (ARRA), passed by Congress in January, on the U.S. energy outlook.
AARA's energy-specific provisions aim to create more than 500,000 jobs, by accelerating deployment of smart-grid technology, providing energy-efficiency funds for the nation's schools, offering support for the nation's governors and mayors to tackle their energy challenges, and establishing a new loan guarantee program to keep the nation's transition to renewable energy on track during the economic crisis.
The EIA report shows that the recovery bill's clean energy provisions are working. As Congress begins consideration of the Waxman-Markey clean energy and climate bill this week, the EIA report signals that America's economy should be fueled by clean energy that will grow jobs, decrease energy costs and oil dependence, and reduce heat-trapping pollution.
‘The EIA report supports the movement in Congress to pass clean energy legislation to reduce our dependence on oil, save consumers money, and create clean energy jobs,’ says Rep. Edward Markey, D-Mass. ‘If we want a lasting and sustainable economic recovery, we must pass comprehensive clean energy legislation.’
The report found that ARRA's clean energy tax credits and loan guarantee program will result in ‘a significant expansion in the use of renewable fuels for electricity generation, particularly in the near-term.’
The recovery package also doubles the amount of wind energy to be built by 2012, with a 67% overall increase by 2030. In addition, ARRA's provisions promoting clean energy, greater efficiency and lower energy consumption are expected to result in a 1.3% reduction in energy-related carbon dioxide emissions in 2013.
For more information, visit eia.doe.gov.
SOURCE: The House Select Committee on Energy Independence and Global Warming