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Stimulus Causes Growth in Alternative Energy Economy

According to Whitehouse.gov, the release of the American Wind Energy Association (AWEA) 4th Quarter 2009 industry assessment indicated that stimulus spending is directly responsible for turning a potential 50% decline in wind power sector growth into a 39% increase in growth in the country’s wind plants, just in 2009 alone.
Denise Bode, the trade association’s chief executive told The New York Times Deal Book Blog:

“The U.S. wind industry shattered all installation records in 2009, and this was directly attributable to the lifeline that was provided by the stimulus package…The second half of the year was extraordinary. But manufacturers didn’t see much growth because they had built up so much inventory.”

The White House also pointed out the environmental benefits to the economic growth:

“America’s wind power fleet will avoid an estimated 62 million tons of greenhouse gases annually, equivalent to taking 10.5 million cars off the road.”

Massachusetts Democratic Representative Edward J. Markey, co-author of the Waxman-Markey clean energy bill, proudly praised the results of the assessment:

“In 2009, America’s wind capacity grew by nearly 40 percent – blowing past the expectations that existed prior to the passage of the Recovery Act, These numbers show the potential for growth in clean energy, if only our country will make a commitment to these technologies.”

The AWEA report also pointed out, however, that:

“The wind manufacturing sector has the potential to employ many more Americans in green jobs, but without a renewable electricity standard to provide a long-term market, the sector will be slow to grow.”

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