During World War II some 85 million Americans were said to have purchased “Victory Bonds” in order to help keep the U.S. economy afloat. it raised around $185 billion at the time, which translates into $2 trillion today. Could this concept be used in other arenas, say clean energy development? That’s an idea Green America, an environmental group, is floating with its Clean Energy Victory Bonds (CEVB) campaign.
The push for the CEVB action is to get Congress and the Obama administration to agree upon allowing Americans interested in speeding up clean energy development in the United States to invest financially in the form of bonds ranging from $100 to $1000 and above. These investments, handled by the U.S. Treasury, would “help fund the rapid deployment of renewable energy development projects and energy efficiency upgrades.” It is believed by Green America that between $5 and 10 billion in investments could create up to $200 billion in public and private finance.
Benefits of these bonds for the economy, the environment, and investors, according to Green America, would be many. They would include uniting individuals, communities, and companies to help finance the rapid deployment of renewable energy projects and energy efficiency upgrades; offering flexible redemption options between 12 months and 30 years; and helping to create 1.7 million new jobs deploying and maintaining renewable energy development projects. The CEVB idea has been floating around for a bit now, but the non-profit recently made another email push to members to get them interested in it, which you can read more about here.