‘Green Bank’ Proposed on Capitol Hill

In Monday's edition of Politico, Sen. Jeff Bingaman (D-N.M.), chairman of the Senate Energy and Natural Resources Committee, penned an op-ed pushing for a so-called "green bank" to finance clean energy projects.

Provisions setting up the Clean Energy Deployment Administration, or CEDA, were bundled in the broader energy legislation proposed last summer. But it's highly unlikely that the bill can pass this year, so Bingaman is making the case for new legislation establishing CEDA.

"CEDA would have a broad mandate to identify, on a continuing basis, technologies with the best potential to deliver sustainable energy with the most efficient use of federal dollars," writes Bingaman. "If we want to realize the energy security, environmental security and economic benefits of the clean energy revolution, then the investments we need in clean energy technology deployment cannot wait."

Amen to that.

Read Bingaman's op-ed piece here.

(via NYT Green Blog)

Photo: A wind power development in China. (via Treehugger)

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