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Obama says renewable energy key to economic future | Markets | Reuters

Obama says renewable energy key to economic future

By Tom Doggett

WASHINGTON, Feb 9 (Reuters) – U.S. President Barack Obama on Monday pushed for more investment in solar and wind energy, saying the country that can make renewable energy sources price-competitive with traditional fossil fuels will become the economic superpower of the future.

Obama, speaking at a townhall meeting in Elkhart, Indiana, said renewable energy companies needed tax breaks and loan guarantees to provide incentives for firms to manufacture and customers to purchase solar and wind energy………………… Obama called on Congress to require U.S. utilities to generate a certain amount of their electricity supplies, such as 15 to 20 percent, from renewable energy sources……………………

He said that, once such a benchmark is set, then renewable energy companies can “count on a pretty solid market that they’re going to be able to sell their energy to.”

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Obama says renewable energy key to economic future | Markets | Reuters

Tags: renewables

February 10, 2009 - Posted by Christina Macpherson | ENERGY, USA