Washington, D.C., United States [RenewableEnergyWorld.com] While testifying before the House Energy and Commerce Committee last week, Former Vice President Al Gore endorsed the Green Bank Proposal, a measure introduced by Congressman Chris Van Hollen (D-MD) that would create a government-owned financial institution to provide support to qualified clean energy and energy efficiency projects.
“I think it’s a very imaginative, very excellent idea, and I commend it to your attention,” Gore said when asked about the Green Bank.
Van Hollen introduced the Green Bank Act on March 24, 2009. The legislation creates the Green Bank as an independent, tax-exempt, wholly owned corporation of the United States. The Bank’s exclusive mission will be to provide a comprehensive range of financing support to qualified clean energy and energy efficiency projects within the territorial United States.
The testimony came as part of the hearing the committee is holding on the American Clean Energy and Security Act of 2009. Measures in the bill include a national Renewable Porfolio Standard and money for green jobs education and training. RenewableEnergyWorld.com will have a complete rundown of what makes the final bill following the committee’s markup period, which will begin sometimes this week.