U.S. needs $500 billion clean tech investment, 5 million green jobs: report

9 December 2008 | Luca Del Buono |

A new plan for reviving and strengthening the U.S. economy calls for an investment of $500 billion over 10 years on a range of energy, education, construction, building and manufacturing programs that would create 5 million jobs.

The New Apollo Program is the creation of the Apollo Alliance, a coalition of business, labor, environmental and community leaders promoting clean energy, energy efficiency and green jobs.

The five sections of the program include numerous recommendations, ranging from expanding and continuing existing programs to developing new funds and systems for cutting carbon.

An underlying theme throughout the plan is improving conditions in the U.S. though better infrastructure, education and good jobs.

The Alliance calls for a national commitment to reduce energy use in new and existing buildings by at least 30 percent by 2025. A proposed Energy Smart Fund would funnel grants to state and local entities to provide energy services and financing.

The plan also includes producing 25 percent of the country's power from renewable and recycled energy sources by 2025, and improving the energy efficiency of existing power plants and industries by 20 percent - primarily through combined heat and power systems - by that same year.

Additional measures include connecting neighborhoods and cities with improved transit systems, enhancing transportation infrastructure by first fixing it instead of expanding it, using smart grid technology to manage power better, extending tax credits related to renewable energy and investing in carbon capture and storage.

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Source: Greenbiz.com