ACES Act A Significant Step For Our Climate
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by: DanielStouffer | Total views: 75 | Word Count: 463
Pres. Barack Obama moved closer to the achievement of a significant victory with the passage of the American Clean Energy and Security Act, also known as the ACES Act, through the House of Representatives. The bill requires that utilities use more renewable energy and introduces a sliding scale of increased requirements through the year 2050. Whilst some states already require that utilities pay close attention to energy production in this way, the new Act takes this concept nationwide.
The ACES Act requires that 20% of all electricity production be derived from alternative sources -- geothermal, biofuel, solar, wind and waste reproduction, for example, by the year 2020. With the goal of capping carbon pollution and stalling climate change, supporters of this bill herald its passage.
A nationwide standard is now proposed for a reduction in emission of harmful greenhouse gases. The ACES Act includes a declining cap on emissions and companies will be given a strict allowance which will be reduced over time. A cap and trade system will be introduced to take into account that individual companies have a variety of different requirements and these companies will be additionally incentivized as they can profit from the sale of their excess allowances and reduce emissions at the same time.
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.
The ACES Act is also known as Waxman/Markey, referring to the two sponsors of the bill in the House. The act calls for tax credits, and the payment of benefits to be passed directly to consumers through utility companies. Valuable investment in clean energy technology is anticipated as well as the introduction of much-needed jobs within the manufacturing sector.
In anticipation of the ACES Act and further legislation, companies that are likely to be impacted are seeking the help of energy management initiatives and using software programs designed to track, analyze and help reduce emissions. Canny management executives are considering the various ways that the cap and trade allowances can be used to best effect and to help their bottom line.
The growing movement towards a lowering of carbon pollution and a reduction in greenhouse gases is bolstered by the passage of the American Clean Energy and Security Act of 2009, appropriately dubbed the ACES Act.
The ACES Act has passed its first major hurdle by winning a narrow vote in the US House of Representatives. The bill must now go to the Senate where modifications are likely before a revised bill heads back for another vote in the House, prior to arriving at Pres. Obama's desk.
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