Green energy markets on a perpetual downturn in the United States
The recent push that the nation’s Democratic Party has launched in order to boost local green energy programs has culminated with a grim ending. After two years of pondering and crafting more comprehensive climate change bills and clean energy projects, the resulting oil spill bill that comes heavily filtered by Congress is utterly inept at actually solving any of the ailing nation’s energy woes, leaving alternatives like solar, wind and biomass power largely ignored.
The inadequate bill is yet to be fully approved, giving the Senate a last chance to amend some of its glaring shortcomings and actually apply the Renewable Electricity Standard to it before any final judgements are passed.
As America continues to lose position in the global green energy trend, the bill, however weakened attempts to limit the nation’s heavy dependence on foreign imports of fossil fuels, as well as boost the faltering economy, provide a less harmful fuel exploration industry for the environment, and fix the rising unemployment rates.
The current RES demands that at least 20% of the nation’s electricity needs are to be supplied by renewable energy sources by 2020. That figure is not only highly positive for the ailing nation, but is also very achievable. Some of the more progressive states have already set up higher targets for the time stretch.
The state of Missouri has put that standard on the express lane, heightening its goals, and stimulating production, and its first targets will be met as early as the end of next year. By the time 2020 rolls around, the ambitious state has plans to create more than 22,000 new job positions in the new field, as well as boost the current worker income by more than a billion dollars. The program will also have virtually no negative impact on the state’s current electricity prices, thereby saving local residents more than $300 million in electric bills alone, creating a win- win situation that more of the nation’s states need to aspire to achieve.
A more focused attention on RES will also stabilize the US energy markets which have long since been turning away investors with their volatile and unpredictable nature. The improved market will surely increase interest in the national economy. The sheer hundreds of thousands of jobs that adherence to the standard will create should be a good enough incentive.
As it stands now, with an uneven focus on the emerging industry, the US is quickly losing position in the green energy race, while emerging countries like China and some European nations occupy the leading spots. With Germany firmly leading the ranks of renewable energy worldwide, and China boasting one of the world’s best wind energy programs, it is clear that the US needs to act now and act drastically in order to catch up with the ever- rising trend.