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developing domestically produced low-carbonand renewable sources of energy.The US must lead by example.Changes and improvements in renewable energy andenergy efficiency policy need to happen first domesticallybefore the US can export their models to other countries.The US must maintain its competitiveness in theglobal economy.To maintain its competitiveness in the global economy theUS must act now. Annual global investments in renewableenergy are over $35 billion and are driving down costs andspurring rapid advances in technology. The rapid growthrates are also creating new economic opportunities forpeople around the world.The US needs a strong commitment to renewable energyand must make innovation, efficiency and cost containmentan imperative for the electricity sector.Expanding the use of renewable energy will havea positive impact on employment.Studies show investment in renewable energy will have apositive impact on the US economy by creating new jobsand stabilizing energy prices. A 20% national RPS in 2020would produce more than 200,000 additional jobs thanthe case where 20% of generation is produced by coal andnatural gas.Through energy efficiency over 800,000 jobs will becreated in 2020, under the assumption of a 1% annualdemand reduction achieved through energy efficiencymeasures. Among the common RPS technologies, solarPV creates the most jobs per average megawatts - a“business as usual” RPS with 50% biomass produces170,000 in 2020, while an RPS with a 50% solar contributionproduces 570,000 jobs.Carbon capture and storage and nuclear power have thefollowing sensitivities in 2020: 25% deployment of CCSproduces 170,000 jobs and an increase in nuclear powerfrom 19% to 35% produces 156,000 jobs. All statisticsprovided were from the Renewable and Appropriate EnergyLaboratory.Policy IssuesAmerica needs a world-class energy policybased on a sustained and consistent frameworkat the local, state and national levels.In the past, US energy policies have been aconstantly changing patchwork, deterringinvestors and stifling innovation. America needsstrong and enduring energy policies that createmarkets for renewable energy technologies,encourage the development of newmanufacturing industries, and provideincentives for investors.States with renewable portfolio standardsillustrate the potential for renewable growth.Texas is home to country’s largest collection of windturbines. California gets over 12% of its electricity needsfrom non-hydro renewable sources such as wind and solar.Boulder, Colorado is a comprehensive demonstration ofan intelligent grid community. With federal leadership,rapid progress is possible.Federal regulations should support current Stateand local regulations.While strong federal leadership is needed, federal policyshould not undo progress made by state and local governments.Federal policy should allow states and localgovernments to establish targets beyond federal requirements.A robust partnership between government andthe private sector is needed to provide ajumpstart to new energy industries whileminimizing the cost to American taxpayers.Government financing should provide long-term, lowinterest loans to address upfront costs and reduce risksinvolved in renewable energy projects. Incentives shouldperformance-based and should evolve predictably toensure investment and innovation. These financialinstruments and incentives will provide time for investorsto adjust to the new investment requirements of renewableenergy.American Council On Renewable EnergyExecutive Summary Report 60