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ACES Act A Significant Step For Our Climate
Utilities across the country will now have to pay extra attention to their energy production as a new act expands this focus nationwide. President Obama is closer to scoring a significant victory through the recent passage of the ACES Act, the American Clean Energy and Security Act by the House of Representatives. Utility companies must now use more renewable energy and a sliding scale of increased commitments will be implemented through the year 2050.
One of the primary focal point of the ACES Act is that it requires fully 20% of all electricity production to come from sources such as biofuel, geothermal, wind, solar and waste reproduction by the year 2020. Advocates for the bill maintain that this is one of the most significant steps towards capping carbon pollution and the containment of climate change.
Part of the ACES Act includes the provision for a declining cap on greenhouse gas emissions. This has been long called for by environmentalists and now sets a standard nationwide for reductions in the emission of harmful gases. Under this bill, companies will receive an allowance enabling them to emit greenhouse gases, but the allowances will be reduced as time goes by. To take into account a variety of different needs and wants, a proven cap and trade system will be introduced. This will give companies an incentive to reduce their emissions as soon as possible, thereby profiting from the sale of their excess allowances.
Major enterprises across the nation will soon be pitched to reduce their reliance on fuels and procedures that cause the emission of greenhouse gases. It is estimated that the impact of the proposed reduction by the year 2020 will be equivalent to taking half a billion cars off the road in the United States.
Additional, valuable jobs are anticipated within the manufacturing sector in addition to valuable investment in clean energy technology. The ACES Act, which is also known as Waxman/Markey - who are the two sponsors of the bill - proposes a certain amount of the given allowance be allocated to consumers. Tax credits, other payments and benefits will be passed directly to end-users through utility companies.
Companies likely to be impacted by the ACES Act are not waiting for full passage and are readily seeking the help of energy management initiatives and software programs that will help them to track, analyze and ultimately reduce their greenhouse gas emissions. In addition, such companies are looking for ways to utilize the cap and trade allowances to best effect and with their bottom line in mind.
The passage of the ACES Act, the American Clean Energy and Security Act of 2009 is very significant and continues the growing movement towards a reduction in greenhouse gases and the overall lowering of carbon pollution around the world.
The ACES Act won a narrow vote in the US House on Representatives. Overcoming this first hurdle, the movement now heads to the Senate for possible modifications before returning to the House and forward to receive Pres. Obama's signature.
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