US President voices support for green energy alternatives

Speaking on Monday, President Obama claimed that the country to make power from renewable energy sources such as solar and wind available to customers at a similar price to energy from fossil fuels will become the economic superpower of the future.

He acknowledged the fact that whilst the costs for generating renewable energy are getting lower, it is still significantly cheaper to create power from coal & natural gas plants.

Obama, speaking at a townhall meeting in Indiana, called for measures to be taken to provide more incentives for companies to generate and customers to buy renewable energy, in the form of financial benefits such as lower taxes, and loan guarantees.

He also stated that he wants the US government to invest each year in the use and development of new technologies to reduce costs in the long term.

“The country that figures out how to make cheaper energy that’s also clean, that country is going to win the economic competition of the future,” he said.

He has pledged to double the amount of renewable energy generated by the US in the next three years, and called for congress to increase the required amount of renewable energy generated by U.S. utilities to around 15 – 20%.