The immediate and influential effect of the “Cash for Clunkers” program on consumer and government spending stands in stark contrast to the lack of spending in the energy industry so far this year. Under the $787 billion American Recovery and Reinvestment Act, signed into law in February, more than $61 billion was entrusted to the Department of Energy to “jump-start our economy and build the clean energy jobs of tomorrow,” a White House press release stated.
Given the sheer size and complexity of the energy sector in the United States, significant initiatives have proved difficult to enact on a national scale given the litany of red tape and regional monopolies that often get in the way of progress. However, two energy initiatives that are gaining support could provide an immediate solution to some of the country’s energy issues, while at the same time stimulating the economy: the Pickens Plan and the Department of Energy’s plan to install smart meters in homes across the country. It is important to monitor the success of these initiatives because the immense scope of their aims will create great windfalls for companies catering to these new markets.
via Powering Tomorrow Two Energy Paths for the Future-11/04/2009 – NASDAQ.com.
Related posts:
- DOE Makes $30B Available to Jumpstart Renewable Energy,’ Smart Grid’ Projects – NYTimes.com
- Attendees to Discuss the Future of Smart Energy at CTIA Wireless I.T. & Entertainment 2009 | Wireless Developer’s Journal
- Investors.com – Tech Vendors Thinking Big On Smart Grid
- How the FCC Can Lead Us to a Smart Intergrid
- Eight Months Into Implementation, Recovery Act Spurs Clean Energy Innovations : Apollo Alliance
