Issue Position: A New Energy Future

Issue Position

I support a comprehensive energy policy that makes a bold commitment to developing renewable energy, prioritizes conservation and efficiency, encourages the use of natural gas, and takes a balanced approach to responsible development of our traditional energy resources. I believe that a new way forward on energy is essential to our national security and for our economic growth, freeing us from oil supplied by hostile governments while powering our economic recovery.

Renewable Energy and Jobs

Colorado knows that renewable energy development creates economic opportunity. In 2007, we doubled our Renewable Portfolio Standard (RPS) to 20%, requiring electricity producers to get 20% of their energy from renewable sources by 2020. Governor Ritter has also encouraged the development of clean energy by setting high standards for state reduction in carbon emissions, reducing emissions by 20% of 2005 levels by 2020 and 50% of 2005 levels by 2050.

Our state's investment in renewable energy has paid off, and Colorado now has a vibrant renewable energy industry that has created scores of new businesses and thousands of new jobs. Renewable energy companies are creating jobs statewide.

We have an abundance of energy sources, expertise and research to offer the nation as we move forward toward a more diverse new energy economy. We have the mental capacity, creativity, and tenacity to be the world leader in renewable energy development and production. We owe it to the next generation to take advantage of this opportunity and make our state a center for renewable energy businesses and jobs. However, we will not be able to fulfill our responsibility to the next generation if we continue to muddle through and waiver in our commitment to government incentives for renewable energy growth. We must assure our private sector that the United States is in this for the long-haul, and that we are willing to provide stable and attractive incentives towards renewable energy research and development.

The American Recovery and Reinvestment Act (ARRA) was a good first step. I voted for the measure, in part because it provided such a substantial investment in renewable energy development. The bill included billions of dollars to modernize the electrical grid and for renewable energy projects. It also expanded tax incentives, extended the Production Tax Credit (PTC) for wind energy facilities through 2012, allowed renewable facilities to claim investment tax credit instead of production tax credit, and removed a cap on investment tax credit for small wind properties. And, it permitted renewable energy producers to claim a 30 percent cash grant instead of a 30 percent investment tax credit if that is more helpful to them in this economy.

The ARRA is a good start, but we need to do more to achieve energy security and long-term growth in the energy sector. We need to be bold and set goals that will transform our energy policy, including:

* A national requirement to draw 25% of our electricity from renewable energy sources by 2025;
* Permanent tax incentives to spur renewable energy growth;
* A substantial and continued federal investment in renewable energy development;
* Construction of an updated electrical grid, including transmission lines that carry renewable energy;
* Incentives for producing and purchasing alternative fuel vehicles.

Energy Efficiency and Conservation

The cleanest and most efficient energy is the watt that is saved, not burned. And, a substantial investment into energy efficiency and conservation will have an immediate impact on family budgets across the country through financial savings on gas and heat. The ARRA included funding to improve energy efficiency in our government buildings and homes. However, there is still more to be done. American manufacturers and builders should be constantly striving to create the most energy efficient buildings, automobiles, and appliances in the world. The Federal Government can help through providing grants that spur improvements to inefficient buildings, increasing minimum requirements for fuel efficiency, and providing incentives for new ways to stretch our energy dollar. The Federal Government must also serve as an example through the construction of energy efficient federal buildings and investments into a fleet energy efficient government vehicles.

Traditional Domestic Energy Resources

We are not going to eliminate our dependence on foreign oil through investment in renewable energy and energy efficiency alone. I believe we should prioritize the development and export of Colorado's vast natural gas resources as one way to help our country steer clear of foreign oil. Beyond that, we should have a balanced approach that includes responsible development of domestic coal, oil, and natural gas resources. Responsible development means that we must include local communities in the decision-making process and make sure that potential impacts to our air, water, and climate are mitigated. Innovation is also important in this sector, and I believe that we must also aggressively seek new, cleaner ways to use our traditional energy resources.

Preparing Students to work in the New Energy Economy

We have other work to do to take full advantage of a comprehensive energy policy for the 21st Century. It is critical that we educate and train the most qualified and innovative workers in the world. Our public education system must give Americans the skills they need for the new jobs that will be created. This means more than simply investing in Science, Technology, Engineering, and Mathematics (STEM) education. We must do that, but it is not enough. I believe we must comprehensively reform our public education system to create a workforce that can compete and win in the 21st Century.

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