10.08.08
Energy independence can rebuild the local economy
Are you worried about the global financial meltdown and its anticipated effects on the local economy? We are already seeing mass layoffs in manufacturing and financial services nationwide, and this will have ripple effects here in Washington.
We’ll lose a lot of jobs in the coming recession, but fortunately we’ll be buffered from the full effects of the economic slowdown because our industries are high-tech and export-oriented. Nonetheless, we should invest in infrastructure and growth industries to soften the recession and ensure a quicker recovery.
On average, 47,000 jobs are created for every $1 billion invested in infrastructure. The Port of Vancouver currently provides about 2,300 direct jobs, $82 million in annual tax revenue, and nearly $99 million in annual payroll income to local residents. Enabling the expansion of the Port and BNSF railway could add 4,000-5,000 jobs in the next 15 years.
We should also move forward with implementing the recommendations of the Columbia River Crossing Task Force for the I-5 replacement bridge. Restricted traffic flows cause delays and inefficiency that hinder economic growth. Expanding freight and passenger capacity along the I-5 corridor will grow Clark County’s economy and pay off for generations to come.
Energy independence is another good way to create great new jobs. Investment in energy efficiency and new technology increases productivity in the same way that investment in computers and the internet enhanced productivity over the last 20 years. Fortunately, our U.S. Senators understand that. Senator Maria Cantwell (D-WA) recently led the effort to pass landmark legislation in Congress that will spark investment in clean and renewable energy industries.
The clean energy legislation passed in the Senate in September by a vote of 93 to 2. It includes many new provisions: an eight year commercial solar and fuel cell investment tax credit; credits for ocean energy projects; tax credits for homeowners who install solar, small wind or geothermal heat pumps; a tax credit up to $7500 for new car buyers who purchase a plug-in electric vehicle, and a new credit for consumers who use alternative methods to heat their homes. The bill also creates an incentive to install new smart meters which empower homeowners to take control of their energy use. The legislation should be complemented by similar legislation here in Washington.
Senator Cantwell’s announcement said, “This landmark package will benefit American families and businesses by creating over half a million high wage jobs right here in America, empower homeowners to reduce their energy bills, and diminish our debilitating overdependence on fossil fuels. As a nation, we must transform the way we generate and consume energy by promoting investments in clean energy generation and increasing our nation’s energy productivity.”
The legislation creates jobs in energy efficiency:
Extends the production credit for electricity produced from renewables, like wind, biomass and incremental hydropower. For the first time these production tax credits are extended to wave, tidal, and hydrokinetic technologies which have particular promise in the Pacific Northwest.
Extends the investment tax credit for solar to eight years, providing the solar industry the market certainty they need to create 440,000 jobs nationally by 2016. In Washington State that translates to more than 10,000 permanent green collar jobs and as many as 15,000 construction jobs.
Extends and expands the Clean Renewable Energy Bonds (CREBs) program that enables public power and consumer-owned utilities that cannot benefit from federal tax credits to reduce their renewable energy investment costs.
In Washington State, 1,000 megawatts of installed wind capacity has already created employment for 2,650 Washingtonians during project construction and an additional 400 permanent jobs for a total economic benefit of $1.1 billion.
Creates high-paying renewable industry jobs in manufacturing (welders, technicians, assembly, averaging $41,000), engineering (averaging $117,000) and non-technical (sales, marketing, development, financial, averaging $52,500).
Provides utilities a tax incentive to put smart meters in Washington homes and businesses to take best advantage of efficient and renewable energy opportunities. Washington State is home to Itron, one of the world’s largest smart meter manufacturers and many leading edge smart grid companies.
Helps homeowners reduce energy expenditures
Helps homeowners generate their own electricity and hot water by providing a 30 percent tax credit towards the installation of solar electric or hot water systems, and expands the credit to cover residential wind generators and geothermal heat pumps. Homeowners utilizing these technologies can reduce a household’s water heating costs by 50 percent.
Consumers can also save up to $500 on their taxes if they install energy efficient products in their homes, such as energy efficient windows and high efficiency heating and cooling equipment.
Provides new car buyers up to $7,500 to buy plug-in electric vehicles, which can achieve over 100 miles per gallon. According to a study by the Pacific Northwest National Laboratory, we can electrify 70% of America’s cars, which would displace 6.5 million barrels of oil each day (50% of oil imports), and cut greenhouse emissions by an estimated 20%. In Washington State, the cost of powering a plug-in vehicle is the equivalent of 70 cents per gallon.
For the first time, energy-efficient biomass fuel stoves are eligible for a consumer tax credit of $300. Sixty percent of wood pellet stoves on the market are manufactured in Washington state.
My opponent Don Benton:
Opposed 2008 House Bill 2815 creating 25,000 green collar jobs
Opposed 2006 Senate Bill 6508 to increase local production of biofuels
Did not vote on a 2007 House Bill authorizing utilities to engage in environmental mitigation efforts.
Did not vote on a 2005 Senate Bill providing tax incentives for clean and alternative fuel vehicles
