Reps. Lofgren and Matsui Introduce Legislation to Increase Investment in Clean Energy Technologies
The Clean Energy Victory Bonds Act would create Treasury savings bonds to fund renewable energy projects and energy efficiency technologies
WASHINGTON, D.C. – Today, U.S. Representatives Zoe Lofgren (CA-19) and Doris Matsui (CA-06) introduced the Clean Energy Victory Bonds Act to provide Americans the opportunity to invest in clean energy technologies and projects around the country. Modeled after the enormously successful victory bonds sold during World War II, Clean Energy Victory Bonds would allow Americans to participate in the clean energy economy through safe investments while also helping create jobs and spur growth in clean energy technologies needed to increase domestic energy security.
“We all benefit as Americans when we invest in the future of our country,” said Congresswoman Lofgren. “Individual citizens helped turn the tide in World War II with Victory Bonds, and we can do that again for the energy and environmental challenges we face by allowing families to invest in innovative technologies that yield a profitable return for the investor and to society.”
“We have a shared responsibility to reverse the effects of our changing climate,” said Congresswoman Matsui. “This legislation gives Americans an opportunity to take action while spurring growth in clean energy technologies, increasing domestic energy security, and creating jobs. I’m pleased to join with Congresswoman Lofgren on this important legislation, which provides a pathway for investments in our country’s collective future.”
The Clean Energy Victory Bonds Act directs the Treasury Department to issue small-denomination, specifically designated treasury bonds to be widely sold and promoted. The proceeds will fund programs under the U.S. Department of Energy Office of Energy Efficiency and Renewable Energy that encourage the growth of renewable energy and energy efficiency technologies.
The bonds are to be available for purchase by individuals for as little as $25 and the proceeds are estimated to:
· Create up to $50 billion in direct investment that could be leveraged in proven incentives to accelerate the development of clean energy and clean energy technologies;
· Create new jobs that put Americans back to work developing clean energy technologies and building clean energy projects in communities across the country;
· Improve national security and increased investment into the U.S. domestic clean energy industry to reduce U.S. dependence on foreign sources of energy;
· Provide a safe opportunity for Americans to invest in the future of their country and a healthy environment.