The Governor of Puerto Rico has signed three bills to promote energy conservation and the use of renewable energy:
The first of the measures signed is the “Law for Energy Diversification by Means of Sustainable Renewable Energy.” It sets compulsory targets for reduction in conventional energy use and increased use of renewable energy. Under this portfolio, the law requires us to produce 12 percent renewable energy by 2015 and 15 percent for 2020. Development of a plan to achieve 20 percent energy production from renewable and alternative sources by 2035 is also required.
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The second measure is the “Energy Tax Incentives Act of Green Puerto Rico.” This law allows all citizens to contribute to solving the energy problem. Citizens who qualify may receive up to 60 percent cash reimbursement for investment in renewable energy for homes and small businesses, and up to 50 percent for midsize businesses that install energy efficient equipment.In addition, the bill provides for a Green Energy Fund, which provides $20 million in 2011 and increases to $40 million in five years for a total of $290 million intended to promote this industry.
“These two legislative measures will create more than 10,000 green jobs over the next five years and achieve an estimated investment of $4 billion over the next 10 years,” said the governor.
Read more from the Puerto Rico Daily Sun.
[Photo: Department of Energy Solar Decathlon]
