Markey and Reed take their inspiration from the "market-opening Telecommunications Act of 1996." They believe that the Waxman-Markey bill, which passed the House in June, is the kind of law that can do for the carbon-based energy sector today what the Telecomunications Act did in the mid-'90s. That is, encourage "private investment in a 21st century energy economy built on alternatives such as wind, sun, biomass and geothermal." When we replace the old networks (literally then, and literally and figuratively now) with something clean and green, we will see billions of private money stimulate the overall economy. Or so they say.Nothing will pull innovation into the energy sector more than wind farms demanding better storage technology, solar farms demanding better ways of capturing and converting sunlight into electricity, and appliances and electric vehicles that can talk to the grid if it is smart enough.
[Source: Talking Points Memo]