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ACES Act Projects Climate Concerns

ACES Act Projects Climate Concerns


    

ACES Act Projects Climate Concerns

by Daniel Stouffer

Pres. Barack Obama moved closer to the achievement of a significant victory with the passage of the American Clean Energy and Security Act, also known as the ACES Act, through the House of Representatives. The bill requires that utilities use more renewable energy and introduces a sliding scale of increased requirements through the year 2050. Whilst some states already require that utilities pay close attention to energy production in this way, the new Act takes this concept nationwide.

The ACES Act requires that 20% of all electricity production be derived from alternative sources -- geothermal, biofuel, solar, wind and waste reproduction, for example, by the year 2020. With the goal of capping carbon pollution and stalling climate change, supporters of this bill herald its passage.

A nationwide standard is now proposed for a reduction in emission of harmful greenhouse gases. The ACES Act includes a declining cap on emissions and companies will be given a strict allowance which will be reduced over time. A cap and trade system will be introduced to take into account that individual companies have a variety of different requirements and these companies will be additionally incentivized as they can profit from the sale of their excess allowances and reduce emissions at the same time.

Major enterprises across the nation will soon be pitched to reduce their reliance on fuels and procedures that cause the emission of greenhouse gases. It is estimated that the impact of the proposed reduction by the year 2020 will be equivalent to taking half a billion cars off the road in the United States.

Additional, valuable jobs are anticipated within the manufacturing sector in addition to valuable investment in clean energy technology. The ACES Act, which is also known as Waxman/Markey - who are the two sponsors of the bill - proposes a certain amount of the given allowance be allocated to consumers. Tax credits, other payments and benefits will be passed directly to end-users through utility companies.

Companies likely to be impacted by the ACES Act are not waiting for full passage and are readily seeking the help of energy management initiatives and software programs that will help them to track, analyze and ultimately reduce their greenhouse gas emissions. In addition, such companies are looking for ways to utilize the cap and trade allowances to best effect and with their bottom line in mind.

The growing movement towards a lowering of carbon pollution and a reduction in greenhouse gases is bolstered by the passage of the American Clean Energy and Security Act of 2009, appropriately dubbed the ACES Act.

A narrow vote in the US House of Representatives ensured that the ACES Act overcame its first obstacle. The Senate will now consider modifications before a revised bill heads back to the House and ultimately, its proponents hope, to Pres. Obama's desk.

About the Author:
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