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As two New England senators unveiled a climate and energy bill to widespread uncertainty this week, local cleantech executives said failure to pass some form of energy legislation this year would be a setback for the small but growing industry.
The bill, co-sponsored by Democratic Sen. John Kerry of Massachusetts and Independent Sen. Joseph Lieberman of Connecticut, calls for cutting greenhouse-gas emissions by 17 percent by the end of the decade from 2005 levels, by 42 percent as of 2030 and by 83 percent as of 2050.
The bill would also institute a national cap-and-trade program that would replace the Regional Greenhouse Gas Initiative, which charges power plants in New England and four other states for the right to emit carbon dioxide.
But uncertainty persisted about whether the bill will even be debated this year. A key former co-sponsor, Republican Sen. Lindsey Graham, remained on the sidelines this week, and questions about the massive Gulf of Mexico oil spill appeared to threaten the bill’s chances, due to provisions in the bill to expand offshore drilling.
Some cleantech executives said the business stakes are high for passing a sweeping energy and climate bill — the sooner the better.
“If we won’t address climate and energy, or if we don’t address it long term, we will end up being a customer for solutions that get commercialized overseas,” said Peter Rothstein, president of the New England Clean Energy Council. “We will switch from importing oil to importing clean energy technology.”
Roger Little, CEO of Bedford-based solar equipment manufacturer Spire Corp., said federal policies and incentives for renewable energy have been important, but not enough to assure a long-term market in the minds of many investors.
A law setting targets for carbon reductions and making renewable energy more competitive, however, could “create a market indefinitely” for cleantech and lead to wider private investment in the industry, he said.
Investment might also flow to new places in the cleantech territory, said Daniel Leary, president of North Andover-based renewable energy installer Nexamp.
Leary believes stabilizing the nation’s policy on renewable energy would spur more interest among investors in clean-systems integrators such as his company, which so far have seen limited private investment.
“When policies change rapidly, it’s difficult to plan for private equity,” he said. “Having a good policy means having strong investment at all levels of the supply chain, from the manufacturer all the way to the client.”
Passage of an energy bill also could help many cleantech companies to plan for their own futures. With no federal policy indicating how renewable energy will be treated long term, it’s difficult to put together a robust plan for growth and hiring, Leary said.
Ultimately, Rothstein said, the United States can wait another year to address climate and energy — but only if the country is content to fall behind Asia and Europe in spurring cleantech innovations and jobs.
“Some opportunities will still be there a year from now, but some may not, because other parts of the world aren’t standing still,” he said.
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