Should the feds play banker for green products?
April 28, 2009 by Tom GuayPosted in: Green Investing, In this week's e-newsletter, Latest News & Views, News
There’s hope for a break in the lending log jam for green products.
A proposed Green Bank would put the Department of Energy and the Treasury Department in charge of making billions of dollars in loans and investments to promote energy-efficient products and services.
Rep. Chris Van Hollen (D-MD) has proposed the Green Bank Act of 2009 to create an independent, tax-exempt corporation owned by the government that would spend up to $50 billion on clean energy projects.
T. Boone Pickens, who promotes using natural gas and wind power as an alternative to coal-fired power plants, praised the green bank proposal as way to “jump start the private sector’s involvement in renewable and other alternative energy projects.”
Former Vice President Al Gore sure likes the Green Bank idea. His testimony in support of Van Hollen’s proposal is here.
Information on Van Hollen’s Green Bank proposal is here.
But that’s not all. Van Hollen also proposed to offer zero-interest loans to help homeowners go green by investing in energy-efficient products and services. Sounds promising, but let’s hope the program is more efficient than his use of works for this bill (National Home Energy Savings Revolving Fund Act!).
Details of his consumer loan program for energy products is here.
Tags: energy efficient, green bank, natural gas, wind power
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May 1st, 2009 at 11:34 am
One word..BILDERBERG! No!!! I do not like this “idea” one bit. Government shouldn’t be handling banks.
May 1st, 2009 at 1:02 pm
NO