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Profile: Michael Liebriech

Michael Liebriech was a participant or observer in the following events:

The American Recovery and Reinvestment Act (ARRA) invests $90 billion in clean energy projects for the next 10 years via loan guarantees, tax incentives, and grants. $38 billion of this is government spending and $20 billion is tax incentives. Symbolically, President Obama signs the bill into law at the Denver Museum of Nature and Science, where he takes a tour of the museum’s solar panel installation. He says he hopes the bill will inspire Americans to get involved in “green” energy the same way that President Kennedy’s goal to put a man on the moon inspired Americans in the 1960s. “I hope this investment will ignite our imagination once more in science, medicine, energy and make our economy stronger, our nation more secure, and our planet safer for our children,” Obama says before signing the bill. The bill includes:
bullet A three-year extension to the tax credit for wind, which would have expired at the end of this year, and an extension until the end of 2013 for geothermal and biomass renewable-energy projects. The credit has been increased to 30 percent of the investment.
bullet $4.5 billion in direct spending to modernize the electricity grid with smart-grid technologies.
bullet $6.3 billion in state energy-efficient and clean-energy grants, and $4.5 billion to make federal buildings more energy efficient.
bullet $6 billion in loan guarantees for renewable energy systems, biofuel projects, and electric-power transmission facilities.
bullet $2 billion in loans to manufacture advanced batteries and components for applications such as plug-in electric cars.
bullet $5 billion to weatherize homes of up to 1 million low-income people.
bullet $3.4 billion appropriated to the Department of Energy for fossil energy research and development, such as storing carbon dioxide underground at coal power plants.
bullet A tax credit of between $2,500 and $5,000 for purchase of plug-in electric vehicles, available for the first 200,000 placed into service.
Most companies in the green-tech field hail the new focus on energy efficiency and renewable energy in the bill, contrasting it with the Bush administration’s support for fossil fuel energy production and its disdain for clean energy programs. Investors and analysts say the new law is a step towards a comprehensive energy policy based on sustained commitment to renewable energy and efficiency. Michael Liebriech of New Energy Finance says: “For years, US policymakers’ support for clean energy has been uneven. No longer… the US will have a great chance to be the growth engine for our industry over the next several years.” The spending should have an almost-immediate impact, especially in areas such as smart grid technology and energy efficiency, says venture capitalist Dennis Costello. However, even this influx of government funding does not solve all the financial problems facing energy technology firms. The recession continues to grip the economy, he notes, damping demand and making financing of new projects difficult. “It’s kind of refreshing to see at least beginnings of a real energy policy, some sort of unified approach to our energy problems,” he says. “But it isn’t going to solve our energy problems. There are a lot of countervailing factors to give pause to being over-exuberant on the future of energy sector and clean tech.” [CNET News, 2/17/2009; Adam Johnston, 7/2013]

Entity Tags: Bush administration (43), Barack Obama, Michael Liebriech, Dennis Costello, Obama administration, American Recovery and Reinvestment Act of 2009, Denver Museum of Nature and Science, US Department of Energy

Timeline Tags: Global Economic Crises, US Solar Industry

China is among the nations spending the most on clean and renewable energy technologies, according to investment figures released by the advisory company Bloomberg New Energy Finance. Overall, the world’s nations invested $243 billion in clean energy in 2010, up from $185.5 billion in 2009 and double the amount of money invested in 2006. Bloomberg CEO Michael Liebriech says: “This is a spectacular result, beating previous record investment levels by a clear margin of more than $50 billion. It flies in the face of skepticism about the clean energy sector among public market investors.” Small-scale distributed generation projects such as rooftop solar arrays saw the biggest increase, with Germany investing the most and nations like the Czech Republic, Italy, and the US following behind. China invested more than any other nation in clean energy, spending over $51 billion. Nations in Europe, the Middle East, and Africa still spend the most, collectively, on clean energy technology, but the nations of Asia and Oceania have surpassed American spending and are closing the gap on the regional leaders. Public market investment rose in 2010 after recession-driven lows in 2008 and 2009. [RenewableEnergyWorld, 1/11/2011]

Entity Tags: Michael Liebriech

Timeline Tags: US Solar Industry

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