Why Now?

President Obama delivers his Weekly Address – January 24th 2009

To accelerate the creation of a clean energy economy, we will double our capacity to generate alternative sources of energy like wind, solar, and biofuels over the next three years. We’ll begin to build a new electricity grid that lay down more than 3,000 miles of transmission lines to convey this new energy from coast to coast.

 

 Double renewable energy generating capacity over three years. It took 30 years to reach current levels of renewable energy production. This plan will double that level over the next three years – enough to power 6 million American homes.

 

 Launching a Clean Energy Finance Initiative to leverage $100 billion in private sector clean energy investments over three years. The finance authority will provide loan guarantees and other financial support to help ease credit constraints for renewable energy investors and catalyze new private sector investment over the next three years.