Thursday, November 3, 2011

Chu: America Faces a Choice to “Compete in the Clean Energy Race” or “Wave the White Flag”

Department of Energy Press Release

”November 3, 2011 -


. WASHINGTON, D.C. – In his speech to the Washington Post Live Smart Energy Conference today, Secretary of Energy Steven Chu highlighted the choice America faces on whether or not to take advantage of the huge economic opportunity and compete with countries like China in the clean energy race.

Excerpts and full text of remarks are below:

“Once again, there is a huge opportunity before us – a global clean energy market that is already worth an estimated $240 billion and is growing rapidly. In fact, a very reasonable estimate is that solar photovoltaic systems alone represent a global market worth more than $80 billion this year.”

“China – like many countries – has learned from the U.S. how government can support critical emerging industries. Last year, China offered roughly $30 billion in government financing to its solar companies, including $7 billion to Suntech. At least 10 countries have adopted renewable electricity standards, and more than 50 countries offer some type of public financing for clean energy projects. For example, Germany and Canada operate government-backed clean energy lending programs, and in the last several months, the UK, Australia, and India have announced plans to do the same.”

“America faces a choice today: Are we going to recognize the opportunity and compete in the clean energy race or will we wave the white flag and watch all of these jobs go to China, Korea, Germany and other countries?”

“The global competition is fierce, and support for innovative technologies comes with inherent risk. Not every company or every product will succeed, but that is no reason to sit on the sidelines and concede leadership in clean energy. Some in Washington are ready to throw in the towel and write off the clean energy industry. They don’t think America can compete or they don’t think it’s worth trying. Others think that the best thing we can do is for the government to get out of the way and let the free market work.”

“To those in Washington who say we cannot or should not compete, I say: that’s not who we are. In America, when we fall behind, we don’t give up. We dig in and come back. Why should we concede one of the biggest growing markets in the world that is in our sweet spot: technological and manufacturing innovation? America has the opportunity to lead the world in clean energy technologies and provide the foundation for our prosperity. We remain the most innovative country in the world ... but “Invented in America” is not good enough. We need to ensure that these technologies are invented in America, made in America and sold around the world. That’s how we’ll prosper in the 21st century.”

Secretary Chu’s full remarks to the Washington Post Live Smart Energy Conference, as prepared for delivery, HERE.News Media Contact: (202) 586-4940

2 comments:

Anonymous said...

"The most recent major report on the Costs of War project, which said the total for wars in Iraq, Afghanistan, and Pakistan is at least $3.2 to $4 trillion." So, tell me how a lousy $80 billion in energy subsidies is going to help the "national debt". If you use the word "revenues" Don't even use the word "revenues". There are plenty of oil revenues, last I looked the oil companies get subsidies too. They get the pentagon to protect their interests as well. Just the recent war in Libya alone put Exxon Mobil back to work drilling deep water wells offshore. Look at their profits and tell me how that benefits the economy. I highly doubt the wind energy pigs will ever contribute one dime to the economy after everything is totaled. We don't need another bureaucracy.

Anonymous said...

Exactly, I'm all for tax cuts but not when our country is at war. It is ridiculous for anyone to believe a country can stand giving tax cuts to companies so the shareholders can reap huge profits, send jobs overseas so they can pay pennies rather than dollars to increase their profits more while we have young people giving their lives for those who only see them as expendable. Their false show of patriotism and claim of how they love their country sickens me.