Pew: U.S needs better policies for stable clean energy sector

Uncertainty in national policy is hampering the U.S. clean energy industry, according to a new report.

Uncertainty in national policy is hampering the U.S. clean energy industry, according to a new report. 

It's not a stable time for United States' clean energy sector.

But the industry isn't simply hurting due to increased overseas competition; it's also hampered by uncertainty in national policies, according to a new report from The Pew Charitable Trust, a think tank.

"Industry is telling us in no uncertain terms that the United States needs to adopt clear, consistent, long-term energy policies that allow American businesses to thrive, make our country more energy secure and advance environmental imperatives," said Phyllis Cuttino, director of Pew's Clean Energy Program in a news release. "Our research shows that there is a multi-trillion-dollar opportunity in the clean energy sector. U.S. industry has the capacity to be a leader, provided we have the right policies in place. It's time for Congress to support a comprehensive energy strategy by delivering long-term certainty for businesses and investors in renewable power."

Pew's report, available here, recommends the United States take the following actions:

• Establish a clean energy standard to guide deployment and investment for the long term.

• Significantly increase investment in energy research and development.

• Enact a multiyear but time-limited extension of tax credits for clean energy sources.

• Level the playing field across the energy sector by evaluating barriers to competition.

• Renew incentives for domestic clean energy manufacturing.

• Create a strategy to expand markets for clean energy goods and services abroad.

Read the full story in the Nashville Business Journal.

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