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The way we choose to power America today will have far reaching implications for the future of our country. Energy production and consumption is inextricably linked to all aspects of our society — our economy, our security, our health, and our environment.
It is time to create a new energy economy — one based on harnessing renewable resources and championing energy efficiency. We need an energy policy that ensures economic growth without degrading our environment, that is not a detriment to our health and our security, and that benefits all Americans, not simply special interests and large corporations.
I challenge the people of America to help create a new energy economy, to help harness the tremendous amount of American innovation. We have risen to the challenge before. We spanned a continent and made one nation out of many. We split the atom and put a man on the moon.
I propose that by the year 2020, 20% of our energy come from renewable resources, such as wind, solar, and biomass. Denmark already gets 20% of its power from wind generators, and Britain is on its way to producing 10% of its power from wind, and 20% by 2020. We are lagging far behind.
Renewable energy is one of the fastest growing industries in the world; the Europeans and Japanese are leaping ahead of us in this new economy. My administration will ensure that companies generating power from renewable resources will get the support they need to make their products affordable for the average American.
We will create a solar power tax credit for residential solar power, and extend the wind production tax credit. We will also expand the tax credit to cover other types of renewable energy, such as geothermal and biomass. My administration will reduce our dependence on oil by providing incentives for consumers to purchase more fuel efficient vehicles, by supporting American biofuels, and by improving efficiency. We will increase the CAFE standards for all vehicles to 37.5 mpg by 2015.
As President, my obligation will be to make long term investments for the country as a whole, not policy that provides quick economic gains for the benefit of a few. We need to do what is right for our health, our security, our economy, and our environment. We need to do what is right for the people of today’s America and for future generations.
Creating the new energy economy will require the hard work or all Americans, and I am fully confident that if we join together, we can rise to this truly historic challenge.
Abundant energy at fair prices was at the core of American prosperity throughout the 20th century and remains of central importance to our quality of life in the 21st. But the US is at a crossroads; the path we decide upon now will determine what kind of energy future the 21st century will hold. Unfortunately, the possibilities for a clean, affordable and sustainable energy future are being undermined by the Bush-Cheney policy of import, drill and burn. Their plan has been written behind closed doors with input coming only from special interests and lobbyists. Governor Dean believes we need to replace this approach with a policy that harnesses the powers of American innovation. Governor Dean believes that energy policy should have the following priorities:
1. Ensure reliable, diverse, and low cost energy supplies at stable prices to all Americans 2. Strengthen our national security 3. Create jobs and stimulate economic growth 4. Spur innovation and make America the world’s energy technology leader in the 21st century 5. Protect our environment
Central to Governor Dean’s approach will be a commitment to renewable energy.
Invest in Renewable Energy Sources
Replacing dirty, inefficient power production with clean, renewable energy sources has several economic and non-economic benefits which are not captured in the current pricing regime. As a result, renewable resources often do not look cost competitive, even when they are the best investment we can make in our future. To help overcome these marketplace distortions, Governor Dean’s proposes to:
Create a Renewable Portfolio Standard — 20% by 2020. Despite a bipartisan plea from 53 Senators, the GOP leadership in Congress buckled under to oil and gas interests and rejected calls to require that our nation generate 10% of its electricity from renewable sources. Governor Dean will put the interests of Americans ahead of special interests and require that our nation generate 20% of its electricity from renewable sources by 2020. To ensure efficient and flexible implementation, Dean will create a renewable energy credit trading system.
Require More American Biofuels. Governor Dean will require that every gallon of the motor fuel in the US, on average, contain 10% American biofuels like ethanol and soy-diesel. As with the renewable energy requirement, Dean will implement a biofuels credit trading system to allow the market to determine where biofuels can be most efficiently used.
Boost Wind Energy Transmission. To tap the massive wind energy potential of the Plains, Governor Dean will work with state and local governments, renewable generators and transmission utilities to breakdown regulatory barriers, eliminate transmission capacity deficiencies and identify possible transmission investments that could jumpstart new renewable generation
Create a Solar Power Tax Credit. Governor Dean will boost demand for solar technology in the near-and long-terms by implementing a consumer tax credit for residential solar power and increasing federal support for R&D into solar technologies to reduce the cost of solar cells.
Extend the Production Tax Credit for More Renewables. Governor Dean will extend the wind Production Tax Credit, which expires at the end of the year. Dean will also expand the tax credit to cover more types of renewable power generation including geothermal, solar and biomass.
Invest in Renewable Energy and Efficiency as Part of the Fund to Restore America. Governor Dean’s economic plan calls for a $100 billion investment in America over two years: the Fund to Restore America. Dean will encourage states to dedicate a portion of the Fund to investments in renewable generation and in supplemental transmission capability needed to spark new renewable generation.
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