As I’ve written, the so-called “economic stimulus” bill is a charade that won’t really help the economy.

However, I give full credit to Chuck Grassley for working hard to get good provisions on renewable energy incentives and green jobs into the version that passed the Senate Finance Committee today. A Sierra Club press release notes:

The $5.5 billion package includes short-term extensions of key renewable energy tax incentives due to expire at the end of 2008–including the Production Tax Credit (PTC), Investment Tax Credit (ITC) for solar, clean energy bonds, and other measures designed to promote energy efficiency.

I’m putting the full text of the Sierra Club’s statement after the jump. It includes examples of how “green jobs” have improved local economies.

Grassley has disappointed environmentalists many times, but today he came through and significantly improved the bill that’s going to the Senate floor.

FOR IMMEDIATE RELEASE: 30 January 2008

Contact: Josh Dorner, 202.675.2384

      Senate Stimulus Plan to Include Green Jobs, Energy Provisions

    Renewables Tax Incentives Key to Thousands of Jobs, Strong Growth

Washington, D.C.–After a bipartisan push by more than 40 Senators, the Senate Finance Committee has included key green jobs and renewable energy

incentives in its version of the economic stimulus package.* The $5.5 billion package includes short-term extensions of key renewable energy tax

incentives due to expire at the end of 2008–including the Production Tax Credit (PTC), Investment Tax Credit (ITC) for solar, clean energy bonds, and other measures designed to promote energy efficiency.  After being

approved 14 to 7 in today’s Finance Committee markup, the package is headed for a final vote on the Senate floor as soon as possible.

A recent study by the Blue-Green Alliance shows that a strong investment in renewable energy could create over 820,000 new jobs and bring billions in

economic growth.  More information can be found at

www.sierraclub.org/bluegreenjobs.

         Statement of Carl Pope, Sierra Club Executive Director

“Senators from both sides of the aisle have lined up in support of this measure because they understand that a strong renewable energy industry is essential to a strong economy and a clean environment.  This industry is running white hot and provides a beacon of hope in these times of growing economic darkness.  These incentives have already helped to create tens of thousands of green collar jobs, revitalized communities, and stand to create hundreds of thousands more.

“These incentives put us on the road toward the clean energy future by jumpstarting the renewable energy industry but we will soon run out of gas

if these incentives are allowed to expire.

“As recent history demonstrates in sharp relief, failing to extend these key incentives immediately will stifle this important industry, result in

the cancellation of clean energy projects nationwide, throw thousands of hardworking Americans out of work, and stop the march of clean energy as the need to fight global warming becomes increasingly urgent.  Letting these incentives expire will also put America further behind foreign competitors at a time when we are just starting to see the power of the new energy economy as it takes hold and brings jobs and clean energy to communities across the country.

“Similar renewable energy incentives have been included in past economic stimulus bills and the specific provisions included in this package more

than meet the test of timely, targeted, and temporary.

“We urge the full Senate to quickly approve this package in order to send it to conference with the House and then to the President’s desk as soon as

possible.  Doing so will ensure that America’s renewable energy industry can continue to power forward toward the new energy future and provide

today’s troubled economy with a much-needed lift.”

—–

Background:

*Senators who have expressed support for the inclusion of the renewable energy incentives include: Cantwell, Snowe, Wyden, Smith, Klobuchar, Kerry, Sununu, Sanders, Dole, Boxer, Johnson, Allard, Salazar, Mikulski, Stabenow, Murray, Dorgan, Brown, Bayh, Clinton, Collins, Specter, Menendez, Thune, Feingold, Dodd, Levin, Obama, Brownback, Coleman, Murkowski, Feinstein,

Schumer, Stevens, Lautenberg, Leahy, Akaka, Kohl, Roberts, Grassley, Bingaman, and Domenici.

Two concrete examples of renewable energy creating jobs:

Games and Pennsylvania–Many areas of Pennsylvania have been decimated by the collapse of the steel industry.  Gamesa, a wind turbine company, has

invested tens of millions of dollars in three factories in Pennsylvania, beginning in Fairless Hills.  These factories provide hundreds of

Pennsylvanians with good-paying, union jobs.

Maytag and Iowa–After being bought by a competitor, Maytag’s headquarters and factory in Newton, Iowa were shuttered in December–costing the small Iowa town some 1,800 jobs.  TPI Composites of Rhode Island announced in

November that by June it will open factory to manufacture wind turbine blades for GE.  This investment will create 500 jobs and help supply the Midwest with wind turbines–creating local tax revenues and investment, providing farmers across the Midwest with the opportunity to receive

thousands in annual income for each turbine on their land, and delivering clean, renewable energy to millions of consumers.