A group of Democrat legislators are borrowing a page from the WWII “war bond” model to increase the uptake of renewable energy and energy efficiency. They’ve introduced a bill – the Clean Energy Victory Bonds Act of 2014, which would allow Americans to invest in clean energy, starting as low as a $25 purchase of a new US Treasury bond.
The bill was introduced by US Reps. Zoe Lofgren (D-Cali.) and Doris Matsui (D-Cali.) and includes 14 co-sponsors: Rep. Mike Honda (D-Cali.), Rep. Chellie Pingree (D-Maine), Rep. William Clay (D-Mo.), Rep. Eleanor Holmes Norton (D-DC), Rep. Judy Chu (D-Cali.), Rep. Steve Israel (D-NY), Re. Matt Cartwright (D-Pa.), Rep. Mike Quigley (D-IL), Re. Katherine Clark (Mass.), Rep. Niki Tsongas (D-Mass.), Rep. Carol Shea-Porter (D-NH), Rep. Tony Cárdenas (D-Cali.), Rep. Lois Capps (D-Cali.), Rep. George Miller (D-Cali.) and Rep. Rush Holt (D-NJ).
The bill is endorsed by Green America and the American Sustainable Business Council, which says the Clean Energy Victory Bonds would leverage $50 billion in investment to provide up to $150 billion in public and private financing to fund energy technologies. The Clean Energy Victory Bond would provide individual and institutional investors with the opportunity to invest in clean energy sectors such as solar, wind, second generation biofuels, electric vehicles, and residential and commercial energy efficiency programs.
In addition, the Clean Energy Victory Bond would extend tax credits for renewables for a decade.