Sunday, September 25, 2011

US Army: Land swap for $7 billion investment in renewable energy

The US Army set a goal to get 25% of its energy from renewable sources by 2025. One way they'll move forward towards that goal is to swap 5 million of their 15 million acres of land to companies who will invest $7 billion over 10 years in renewable energy installations. In the process, the Army will be able to tap into the energy produced.

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The new program involves building twenty utility-scale renewable energy installations that rely on a mix of solar, wind, geothermal, and biomass power. The installations will be constructed on land owned by the Department of Defense, at Army bases throughout the U.S.

The program calls for the Army to use its land as equity to leverage about $7 billion in private investment for the twenty projects.

The Army’s goal is to provide its bases with reliable energy sources that are insulated from price spikes, shortages and grid disruptions. Aside from these energy security issues, reducing pollution and greenhouse gas emissions are key goals.

Rather than paying up front for the installations, the Army plans to attract companies that would build the renewable energy installations in exchange for a commitment from the Army to purchase the energy.

Of course, an additional benefit is the jobs that will be created to build these new energy installations.

I'd say that's another example of good government being implemented by the Obama administration.

3 comments:

  1. This is brilliant. I like the part about insulating them from energy price spikes and grid disruptions. So. Darn. Clever.

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  2. It is absolutely brilliant. Talk about a win/win/win!!

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  3. I just love the way President Obama goes around and takes care of the things he can do without congress.Love It. He's my man. Yahoo!!!. thanks Smartypants for bringing this to our attention.

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