Posted by Kelly Smith on Wed, Mar 24, 2010
On March 18, President Obama signed the Hiring Incentives to Restore Employment (HIRE) Act into law. This new jobs bill will encourage companies in the United States to hire new employees. One notable effect of this act will be to increase green jobs and stimulate the green energy economy.
The Obama Administration has already started to encourage renewable energy research and development through the Recovery Act. A December 2009 White House memo from the Vice President to the President states that government investment through the Recovery Act puts the United States “on track to meet the goal of doubling our renewable energy generation, including solar, wind and geothermal, in just 3 years.”
The United States Department of Energy reports that over $5 billion dollars have been awarded to date in the form of competitive grants to small businesses working on energy efficiency, carbon sequestration, renewable energy, and other aspects of green power as a result of the Recovery Act. Although the efforts of small businesses are usually lower profile than emerging green business practices such as Walmart's Sustainability Index, small businesses account for over half of U.S. economic growth. Such laws as the Recovery Act and the HIRE Act are important aspects of funding America's shift to renewable energy.
As of 2006, renewable energy accounted for only 18% of the global power supply. With the recent focus on increasing overall sustainability and renewable power usage by corporations, small businesses, and governments around the world, that number is increasing. Growing the global green energy supply is a key battle in the fight against global warming.