Obama wants green leadership

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President Barack Obama touted the promise of alternative energy at Solyndra Inc. on Wednesday, saying that if America doesn’t continue rapidly funding and innovating clean technology, it risks losing its position as the world’s economic leader.

The president, on a two-day visit to Northern California, toured the fabrication plant Solyndra is building in Fremont with the assistance of a $535 million loan it received under the federal recovery act. The loan has created 3,000 construction jobs and is projected to add 1,000 more permanent jobs.

Speaking to a packed audience that included Solyndra employees and some of the construction workers building the plant, the president said that the solar-equipment company, as well as electric-vehicle manufacturer Tesla Motors Inc., are evidence that alternative energy is no longer the stuff of a science-fiction future.

“There are factories like this being built in China; there are factories like this being built in Germany,” the president said, adding that nobody is playing for second place.

Those nations, he said, realize those that lead the cleantech economy will lead the global economy.

Just 15 years ago, America produced 40 percent of the world’s solar panels; by 2008, the country’s share had fallen to just over 5 percent, he said.

“I don’t know about you, but I’m not prepared to cede America’s leadership in this, because I’m not prepared to cede our leadership in the global economy,” Obama said.

The president also noted that America is rapidly evolving its position as a leader in advanced battery development—the kind of which will power the vehicles that will be made by Tesla and Toyota Motors Corp. in a historic partnership announced last week.

Before the Recovery Act, America produced less than 2 percent of the world’s advanced batteries. Within five years, Obama said, he believes that number will increase to 40 percent as demand for electric vehicles increases.

Read the full post in Portfolio.com.