Obama Features Clean Energy at Denver Stimulus Signing

Source: E&E News.net (paid source).

"Because we know we can't power America's future on energy that's controlled by foreign dictators, we are taking a big step down the road to energy independence and laying the groundwork for a new, green energy economy that can create countless well-paying jobs," Obama said.

Obama was introduced at the event by Blake Jones, CEO of the Colorado-based company Namaste Solar, which specializes in solar-panel installation. Jones praised the installation as allowing his company and others to "begin hiring again."

Colorado Gov. Bill Ritter (D) described Colorado as at the forefront of developing a new energy economy and said the bill is a major step forward in that regard.

All told, the stimulus contains about $43 billion for direct energy and efficiency programs, along with energy-related tax provisions that total more than $20 billion. Much of those direct investments will go toward programs such as building weatherization, energy efficiency and conservation grants, and renewable energy and electricity transmission loan guarantees.

Beyond providing incentives for alternative energy development, Obama said the legislation would also help spur construction of an electricity grid that will be more capable of moving that energy across the country.

"The electricity we use is carried along a grid of lines and wires that dates back to Thomas Edison -- a grid that can't support the demands of clean energy," Obama said. "This means we're using 19th- and 20th-century technologies to battle 21st-century problems like climate change and energy security."

The bill contains $11 billion for smart-grid technology, including $4.5 billion for a federal matching grant program to invest in smart-technology projects.

Alternative-energy advocates also quickly moved to praise the legislation today, saying that it will help create thousands of jobs in the renewable energy sector and also serve as the first step in addressing items such as climate change...MORE at Headline.