Democrats in the US House introduced legislation Tuesday that aims to boost exports of US clean energy technology.
The Clean Energy Technology Manufacturing and Export Assistance Act would create a $15 million fund–to be administered by International Trade Administration within the Department of Commerce–to help increase the competitiveness of American-made clean technology industry here in the U.S. and in the international marketplace. The fund would support the development, implementation, and sustainability of a National Clean Energy Technology Export Strategy, and serve to assist U.S. Clean Tech firms with export assistance in finding and navigating foreign markets to export their goods and services abroad.
One of the bill’s sponsors, Doris Matsui (D-CA) said the legislation would help strengthen America’s domestic clean tech manufacturing industry by requiring the Fund to promote policies that will reduce production costs and encourage innovation, investment, and productivity in the clean energy technology industry. In turn, that is expected to help American companies increase their demand and create new, clean energy jobs.
Currently, the US clean tech industry is lagging behind many of its international competitors in exports. According to a recent US Senate report, the US cleantech industry exported about $7.7 billion in products and services between 2004 and 2008, compared to China’s $22.7 billion and Germany’s $19.6 billion.
The US Department of Energy has found that the increase in exports of green technology could reach $40 billion per year and could create more than 750,000 jobs by 2020.
The Clean Energy Technology Manufacturing and Export Assistance Act of 2010 is co-sponsored by leading Members of the House Energy and Commerce Committee, including House Commerce Trade and Consumer Protection Subcommittee Chairman Bobby Rush (D-IL), Chairman Emeritus John D. Dingell (D-MI), and Congresswoman Anna Eshoo (D-CA).
“Right now, the global market for environmental goods and services is estimated at $700 billion,” said Chairman Rush. “This means that the future of the overall U.S. economy not only depends upon a vibrant domestic market but strong American leadership in the rapidly expanding green economy. At present, only six of the top 30 global companies that lead in this sector are American owned.”
Read additional coverage at the link below.
Loading...