- A requirement for utilities to provide 15 percent of their electric power from renewable sources by 2020, and
- An energy tax package that would have created $30 billion in incentives for renewable power, biofuels, plug-in hybrids, and other clean technologies.
Still, the bill deserves a solid “B” for what is in it. Here are the major components, from the office of Jeff Bingaman (D-NM):
Increases Auto Mileage for First Time in Decades. It raises auto fuel economy to a fleet average of 35 miles per gallon by 2020, a 40% increase over current requirements for cars, SUVs, vans and pickup trucks.
Increases Production of Ethanol. It requires ethanol fuel production to grow to 36 billion gallons a year by 2022, a sevenfold increase over the amount of ethanol processed last year.
Spurs Research on Fuel-Efficient Vehicles. It provides federal grants and loan guarantees to promote research into fuel-efficient vehicles and supports pilot coal-plant projects to capturecarbon dioxide and store it underground.
Saves Taxpayer Dollars By Increasing Energy Efficiency. The bill includes new appliance and lighting efficiency standards plus a requirement that the federal government accelerate use of more efficient lighting in public buildings.
Here are some comments on the Bill, first from Bingaman’s office, then from Richard Lugar’s (R-IN):