Statements On Introduced Bills And Joint Resolutions
Mr. President, I rise today to speak about the Renewable Energy Market Access Program Act, or REMAP Act, which I introduced to help grow American renewable energy and energy efficiency exports abroad. This bill would help small- and…
Mr. President, I rise today to speak about the Renewable Energy Market Access Program Act, or REMAP Act, which I introduced to help grow American renewable energy and energy efficiency exports abroad. This bill would help small- and medium-sized renewable energy businesses promote, export and ultimately penetrate foreign markets.
I know my colleagues are well aware of the importance of exports to our Nation's economy, as evidenced by their support for efforts to increase American competitiveness abroad. I am also encouraged by the President's National Export Initiative and its goal to double American exports over the next five years. This effort will be critical to a full economic recovery and I encourage the administration to continue its work; however, I believe that we need to do more to support a sector that shows tremendous growth potential.
In 2009, $162 billion was invested in clean energy worldwide, and it is estimated that this investment will increase to $200 billion in 2010. Additionally, 90 percent of worldwide investments in renewable energy goods occur in G-20 countries and the developing world is projected to comprise 80 percent of the world's future energy demand. While I continue in my belief that the United States must remain competitive in both public and private domestic investments in renewable energy, I also believe that we cannot ignore the growing potential for American businesses to access markets abroad. Growing private and public investment in the global economy means
growing markets for American companies of all sizes here at home--which translates into sustainable, well-paying jobs. In this economic climate, I know the most important thing on everyone's mind--Democrats and Republicans alike--is putting people back to work. However, those small- and medium-sized businesses and companies, which are the engine for our domestic economy, are likely to need more assistance in accessing these growing foreign renewable energy markets. This is why I have filed legislation that focuses on equipping small- and medium- sized enterprises with the tools they need to access foreign markets and thereby strengthening our domestic economy and creating jobs.
My legislation would support the promotion of American renewable energy and energy efficiency products abroad by creating a Renewable Energy Market Access Program or REMAP. Through REMAP, trade associations and State-regional trade groups would apply to the U.S. Department of Commerce and enter into cooperative agreements to provide marketing and trade assistance to small and medium-sized companies in the renewable energy and energy efficiency sectors. The assistance would help facilitate the export of their goods to existing and new foreign markets. The agreements would also offer eligible participants an opportunity to share the costs related to innovative marketing and promotion activities. The public funding for any one application would never exceed 50 percent of the total cost of the proposal, ensuring buy-in from the applicant and an ongoing working relationship with the Department of Commerce. In sum, this bill will help streamline access to the global marketplace for small business and help promote American renewable energy and energy efficiency products overseas.
I would like to highlight a sector in the renewable energy industry that could make good use of the REMAP program and in turn help strengthen the American clean energy manufacturing sector. The small wind sector is just one renewable energy area that has recently experienced strong growth and has great potential. According to industry statistics, the U.S. small wind market grew by 15 percent in 2009 despite our economic challenges. What has been even more encouraging is that approximately 95 percent of units sold in the U.S. in 2009 were produced by U.S. manufacturers. Not only is the U.S. small wind industry working to meet our growing domestic appetite for small- wind generation, it is also poised to be a growing force in the global market. In 2009, U.S. manufacturers accounted for 47 percent of global small wind sales and exports accounted for approximately 36 percent of U.S. manufacturers' sales, which represents an eight percent increase from 2008. As countries develop energy policies that drive investment in their renewable energy economy, our domestic renewable energy industry will see its potential to export grow. The question that remains is: how do we ensure that American small wind producers realize their full potential to help meet the global demand for the goods they produce? The answer is through efforts to promote U.S. renewable energy and energy efficiency products abroad. I believe that the U.S. can grow as a leader, not just in small wind, but in all sectors of renewable energy and I believe that REMAP can help take us there.
I want to be clear that I strongly believe that this legislation is an important step in the right direction to support a growing industry, but I want to acknowledge that there is more that needs to be done to ensure that our country's renewable energy goods have fair access to foreign markets. Congress must find sensible policy mechanisms to address the unfair trade barriers and other anti-competitive tactics that are used to keep our goods from the shores of other nations with which we have stable relations, and we should continue having conversations on how these matters can be best addressed. But no matter the situation, we must stand in support of our domestic small businesses and provide them the resources they need to help them access new and growing markets, while we fight to ensure fairness in the global economy. I urge my colleagues to join me in supporting this legislation.
Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.