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August 28, 2012

Treasury Bonds Issue Will Help Fund Clean Energy Deployment
    by Robert Kropp

The Clean Energy Victory Bonds Act would both provide for the sale of US Treasury Bonds to help finance clean energy technologies, and extend the federal Production Tax Credit for wind energy.

SocialFunds.com -- A bill introduced in the US House of Representatives this month will provide for the investment of much-needed funds in the development and deployment of clean energy technologies in the United States.

Introduced by Rep. Bob Finer of California and 10 co-sponsors, the Clean Energy Victory Bonds Act of 2012 (H.R. 6275) will permit the sale of US Treasury Bonds for as little as $25 each. The Clean Energy Victory Bonds will leverage a $50 billion investment to provide $150 billion in the financing of clean energy technologies. Supporters anticipate that at least 1.7 million jobs will be created by sales of the bonds.

According to the campaign, individual and institutional investors will benefit from a government-backed investment vehicle that will, the campaign states, provide returns that are at least equal to those of other Treasury Bonds.

The proposed legislation also extends the federal Production Tax Credit (PTC) for wind energy, which is set to expire at the end of this year. According to the American Wind Energy Association (AWEA), the PTC "drives up to $20 billion a year of private investment into US wind farms, creating demand that allows US manufacturing to compete in a global market." Allowing it to expire could lead to the loss of 37,000 jobs by early 2013, AWEA warned.

Furthermore, "Government incentives are not currently meeting demand from the private sector," H.R. 6275 states. "And we are not taking full advantage of the potential for clean energy and transportation, as well as energy efficiency in the United States."

Clean Energy Victory Bonds is a campaign of Green America. Included among the more than 40 supporting organizations are Calvert Investments, Ceres, and Pax World Funds, as well as a number of other sustainable investment organizations.

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