This proposed 2019 legislation directs the Secretary of Treasury to work with the Secretary of Energy and the Secretary of Defense to establish Clean Energy Victory Bonds. Bonds would be available to the public in denominations as low as $25. Bonds would raise extra funds for investment in clean energy and energy efficiency deployment, including:
- providing additional support to existing Federal financing programs available to States for energy efficiency upgrades and clean energy deployment;
- providing funding for clean energy investments by all Federal agencies;
- providing funding for electric grid enhancements and connections that enable clean energy deployment;
- providing funding to renovate existing inefficient buildings or building new energy efficient buildings;
- providing tax incentives and tax credits for clean energy technologies;
- providing funding for new innovation research, including ARPA-E, public competitions similar to those designed by the X Prize Foundation, grants provided through the Office of Energy Efficiency and Renewable Energy of the Department of Energy, or other mechanisms to fund revolutionary clean energy
technology; - providing additional funding for zero-emission vehicle infrastructure and manufacturing; and
- providing additional funding to existing federal, state and local grant programs that finance clean energy projects;
Bonds would accrue interest based on savings achieved through reduced energy spending by the Federal Government and interest collected on loans provided from proceeds of the bonds. Bonds sales would be capped at $50 billion each year.