Sun Pacific Energy, Inc - Goverment Support of Alternative Energy

Phone: (732) 845-0906 Toll Free: (888) 845-0242 Fax: (732) 845-2141

President-Elect Obama has clearly stated his support of aggressively developing green technology and alternative energy. His plans include:

Investing in a "Clean Energy Economy" to create 5 million new green jobs

Investing at least $15 billion per year to support the development of clean energy

Converting manufacturing centers into clean technology leaders

Requiring all new vehicles be flexible fuel vehicles

Federal mandates are already in place that will significantly increase the use of alternative fuels.

Tax Credits, Grants, and Loans

The Federal government provides the following incentives:

Federal tax credits for alternative energy producers and infrastructure

Federal grants for product development and research and development

Federal loan guarantees for up to 80%

State governments provide the following incentives:

State tax credits for infrastructure

State grants

State purchase requirements

Executive Order 13423, "Strengthening Federal Environmental, Energy, and Transportation Management", supports the biodiesel industry by requiring improved energy efficiency for all federal agencies; reduced greenhouse gas emissions at a 3% annual rate, and reduced consumption of petroleum products at a 2% annual rate. It also set standards that are now being followed by state governments.

The Energy Independence and Security Act (P.L. 110-140, H.R. 6) requires the reduction of air pollutant and greenhouse gas emissions; promotes greater use of alternative energy sources; provides significant federal support in the form of tax incentives, loans, grant programs, and regulatory programs for renewable energy, and creates a new, 36 billion gallon renewable fuel requirement program that begins in 2009 and continues for thirteen years. Under this program, the volume of renewable fuels will increase from 11.1 billion in 2009 and rise to 36 billion by 2022