U.S. Reps. Zoe Lofgren, D-Calif., and Doris Matsui, D-Calif., have introduced the Clean Energy Victory Bonds Act of 2015, legislation that would direct the U.S. Department of the Treasury to issue small-denomination treasury bonds to fund and extend existing tax incentives and credits that encourage renewable energy growth.
According to the representatives, the bill is modeled after the ‘enormously successful’ Victory Bonds of World War II and allows Americans to participate in the clean energy economy through safe investments that improve public health, boost economic growth and protect the environment. The bonds would be available for purchase by individuals in denominations as low as $25, and up to $7.5 billion in bonds would be issued per issuance, up to a possible $50 billion total.
Proceeds from the bond sales will support and extend clean energy incentives, including the production tax credit and the investment tax credit.
"When Americans invest in a clean energy future for our country, we all benefit," says Lofgren. "Individual citizens helped turn the tide in World War II with Victory Bonds, and we can do that again in the battle against climate change by allowing any American to invest in innovative technologies that yield a profitable return for the investor and to society."
Green America and the American Sustainable Business Council have both endorsed the bill.
‘This bond fills a real need for individual and institutional investors, offering them a low-risk opportunity to invest in clean energy sectors, such as solar, wind, second-generation biofuels, electric vehicles, and residential and commercial energy-efficiency programs," says Todd Larsen, executive co-director of Green America, in a statement. "It will also provide the incentives companies need in the clean energy sector to maintain the United States' leadership and create over 1 million jobs in the U.S.’
‘Clean Energy Victory Bonds will be a huge boon to the growing clean energy and energy-efficiency sectors,’ adds Fran Teplitz, executive co-director of Green America. ‘Investors and business need steady incentives in order to invest in the clean energy industry in the U.S.’