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Clean Economy Legislative Updates


From our friends at CEN:

Majority Leader Reid released draft legislation last week that included provisions addressing the oil spill and limited programs funding efficiency and transportation measures. Yesterday, August 3rd, in the face of a crowded Senate calendar, Sen. Reid decided to postpone consideration of the legislation until mid-September, after August recess.

As the Senate continues to deliberate the size and scope of energy legislation, the clean economy faces setbacks both nationally and internationally. In May, the Federal Housing Finance Agency issued a policy preventing Property-Assessed Clean Energy (PACE) loans from taking precedence over primary mortgages and prohibiting Fannie Mae and Freddie Mac from issuing mortgages to homes receiving funding PACE funding. This resulted in the California Energy Commission withdrawing $30 million in Stimulus funds for PACE projects in California–and other states are expected to do the same.

In the face of deep national deficits, a number of European countries are cutting programs designed to spur clean energy development. Countries that have announced subsidy cuts include Spain, Germany, France, Italy, and the Czech Republic, and there are fears that the United Kingdom may do the same.

Meanwhile, Mingyang Electric, one of China’s largest wind turbine suppliers is expected to raise $500 million in a share sale in the United States in September, in what could be the largest such listing by a Chinese company this year.

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