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US Launches Renewable Energy and Energy Efficiency Export Initiative
U.S. Commerce Secretary Gary Locke today joined seven other U.S. government agencies in launching a coordinated effort to promote renewable energy and energy efficiency exports – the Renewable Energy and Energy Efficiency Export Initiative.
Tthe Initiative was created with three goals in mind:
- To help reduce the US trade deficit;
- To regain and maintain the US's international leadership position in green technologies;
- To foster the domestic creation of green jobs.
Through the Initiative, the U.S. Government will support renewable energy and energy efficiency (RE&EE) exporters by offering new financing products, enhancing market access, increasing trade promotion and improving the delivery of export promotion services to current and future RE&EE companies.
“The Initiative lays the foundation necessary to help U.S. renewable energy and energy efficiency companies take better advantage of current market opportunities,” Locke said. “It also positions federal government programs to better support U.S. global competitiveness in these sectors over the long run.”
The Initiative, which is described in a report being released today by the Commerce Department, comes on the heels of formation of the Renewable Energy and Energy Efficiency Advisory Committee, which is made up of industry leaders. Locke chaired the committee’s first meeting today. The Committee will advise the Secretary on the development and implementation of programs and policies that will help to expand the competitiveness of the U.S. renewable energy and energy efficiency industries.
The Initiative is the U.S. Government’s first-ever coordinated effort to support the promotion of renewable energy and energy efficiency exports. Through the implementation of 23 interagency actions, the Initiative is designed to facilitate an increase of RE&EE exports during the next five years, helping to meet the goals of the National Export Initiative and President Obama’s challenge to become the leading exporter of clean energy technologies.
Additionally, the Initiative calls for:
- The creation of foreign buyers guides for U.S. RE&EE technologies
- The commitment by OPIC to invest an additional $300 million in financing for renewable resource projects in emerging markets and additional new products for energy efficiency subordinated debt financing and clean energy technology equipment leasing;
- The streamlining of RE&EE financing applications at both OPIC and ExIm;
- The formation of a new subcommittee at the Office of the U.S. Trade Representative to address market access barriers facing the U.S. RE&EE industry in foreign markets, and
- The expansion of USDA’s Market Access Program to include biomass wood pellets. (Currently, the program focuses on biofuel products but not biomass.)
The report is available for download from the Renewable Energy and Energy Efficiency Export Initiative website.