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Backhanded compliments for Green Bank idea?
April 24, 2009 - by Emma Ritch, Cleantech Group
Some of cleantech's most famous names are weighing in on U.S. lawmaker Chris Van Hollen's proposal for a bank with the sole purpose of financing cleantech projects in the United States.
The ringing endorsements? "Imaginative" and "creative," according to an e-mail Van Hollen's office sent out today.
Another imaginative, creative bank
That doesn't instill a lot of confidence in the financial institution that Van Hollen says could undo some of the cleantech sector's project financing woes. In fact, such descriptions come at a time when Americans have less confidence in their financial institutions than at any point in the last 30 years.
To be fair, Nobel Prize winner and former Vice President Al Gore had some positive things to say in his testimony before Congress today: "I think it’s a very imaginative, very excellent idea, and I commend it to your attention."
And T. Boone Pickens complimented the idea: "An alternative energy bank is a creative and needed way to jump start the private sector's involvement in renewable and other alternative energy projects."
The tax-exempt government-owned bank would be able to offer financing to clean energy and energy efficiency projects within the country's borders under the name National Clean Energy Lending Authority.
But if Van Hollen is to rally other lawmakers—especially the climate change skeptics—behind the proposal, he needs to publicize the endorsements a bit more grounded in reality, not imagination.
Copyright © 2009 Cleantech Group LLC. All rights reserved, including right of redistribution.
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endorsing
Submitted on May 1st, 2009 by Unregistered user (not verified)Backing the proposal is the Coalition for Green Bank.
"The Coalition for Green Bank is a consortium of leaders in energy development enterprises including renewable resource developers, original equipment manufacturers, investors, financial advisors and consultants dedicated to the stimulus of green energy assets for clean and sustainable energy and jobs, and economic development. The CGB is proud to have the support of the Pickens Plan, Mesa Power, Natural Resources Defense Council, General Electric, Cavallo Energy, US Department of Energy, Florida Power & Light, Bright Source Energy, RES-Americas, American Wind Energy Association and many more. The GBC comprises co-chairs Todd Filsinger (PA Consulting Group) and Reed Hundt, steering committee members Monty Humble (Mesa Power Group, LLC), Phillip P. Gennarelli (Cavallo Energy), Kenneth Marks ( Morgan Stanley), and coalition members Steve Taub (GE Energy Financial Services), Michael Bruce (Manifest Energy Group), Jason Scott (EKO Asset Management Partners), Thomas R Rosen, (Green Amperage Partners, LLC), Dave Chen (Equilibrium Capital Group), Mitchell Dong (Mohave Sun Power LLC), Tom Casey (CURRENT Group, LLC), Alan H. Fleischmann, Bruce R. Thompson (US Mainstream Renewable Power Inc.), Steve Boyd (Principal, Boyd Strategies), Michael Gergen (Latham & Watkins LLP), Harrison Wellford (Terrawell Energy), William Gleason (Chinook Energy), Michael Peck (MAPA Group), Susan Leeds (Natural Resources Defense Council), and Harold Borden (Cavallo/Cross Hudson)."
Looks like a nice endorsement start, no?
There are better ways to sell the idea
Submitted on May 1st, 2009 by Emma RitchVan Hollen sent out the comments I included in the blog in an e-mail to reporters to show how much support he was receiving, which your comment clearly attests to. But surely with that much support, Van Hollen could have found a few endorsements to publicize that focused on the economics of the plan as opposed to complimenting his imaginative thinking. I'm not saying the plan has no merit; I'm questioning his choice of publicity. Making a financial case for the bank could be the better route than complimenting his creativity.
Emma Ritch, Cleantech Group
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