House Passes Energy Efficiency Package; Small Business Committee Bill Included to Support Innovations in the Energy Sector

Yesterday, the U.S. House passed H.R. 3221, the New Direction for Energy Independence, National Security and Consumer Protection Act, legislation that provides incentives for the production of clean energy, aids our nation’s farmers in producing the next generation of America’s fuel, and supports energy efficient technology. It also creates an environment for creating jobs, stimulating the economy and helping small businesses.

The historic legislation includes a number of measures that had passed through the House Small Business Committee in May to help entrepreneurs cope with rising energy costs, become more resourceful in their usage, and continue developing new technologies.

“This is a major step forward for improving our environment and helping this nation’s small businesses to lead the way in that charge,” said Chairwoman Nydia Velázquez [D-N.Y.]. “This legislation includes critical provisions that will empower entrepreneurs to create a more eco-friendly environment, and help achieve the overall goals of H.R. 3221 to spur investment in biofuels, new energy technologies, innovation and job creation.”

Small businesses have been particularly affected by the rising cost of fuel, as any additional expense is more difficult for them to absorb than their corporate counterparts. According to a survey conducted by the National Small Business Association [NSBA], over 60 percent of small businesses use vehicles on a daily basis, and a majority of those who use vehicles travel more than 50 miles a day. This has forced many entrepreneurs to consider scaling back their daily operations and reducing their staff in an effort to save money.

“The rising cost of energy has hit small businesses hard,” Chairwoman Velázquez noted. “This bill focuses not only on supply, but it also focuses on usage. These two factors are key in helping small businesses to manage increasing energy prices, and in becoming more resourceful.”

A critical piece of the New Direction for Energy Independence, National Security and Consumer Protection Act, is H.R. 2389, the Small Energy Efficient Business Act [SEEBA], introduced by Subcommittee Chairman, Rep. Heath Shuler [D-N.C., pictured above], and approved by the full House Small Business Committee this spring. The bill provides loans, education and investment to small firms to help them become more energy independent, thereby helping them take advantage of their role as leaders in the search for solutions.

H.R. 2389 also promotes good energy practices by modifying existing Small Business Administration [SBA] programs to provide more flexible loan terms to small firms that are developing or utilizing new technologies.

SEEBA stimulates investment in the production of alternative sources and product development by expanding the Small Business Investment Companies [SBICs]. The SBA will be required to develop a strategy to educate small firms about being resourceful, and establishes an educational program for the Small Business Development Centers [SBDCs]. Additionally, the Renewable Fuel Capital Investment Program [RFCIP] will be created, which will help small firms develop renewable energy sources. These measures will play a vital role in the reaching the goals of H.R. 3221.

“Small businesses are leaders in developing new technologies to spur efficiency, and under H.R. 3221, entrepreneurs will be able to continue on that path,” said Chairwoman Velázquez. “The Small Energy Efficiency Business Act will give the support needed to foster these types of advances, while also encouraging innovation and job creation. I am proud that this legislation is a vital component of the monumental energy package that the House has passed today.”

Sources: Congressional Budget Office, GovTrack.us, U.S. House Small Business Committee, WashingtonWatch.com
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House Committee Approves Bill to Help Small Business Cope With Rising Energy Costs

Rising energy costs have hit small businesses especially hard over the past few years, impacting their daily operations and forcing many to alter their business models. To help small businesses cope with climbing energy prices, the House Small Business Committee approved legislation, H.R. 2389, the Small Energy Efficient Business Act [SEEBA], to provide loans, education, and investment to small firms for energy efficient buildings, fixtures, equipment and technology.

"Small businesses nationwide are struggling as energy becomes increasingly expensive," said Chairwoman Nydia M. Velázquez [D-N.Y.]. "It is clear that swift action is needed to help firms deal with the record gas and energy prices. One way to do this is ensuring entrepreneurs are educated and aware of the assistance available to them, as well as helping them to remain the top producers of alternative sources of energy."

Addressing these challenges, the committee approved legislation yesterday that modifies existing Small Business Administration [SBA] programs to better assist small companies with adapting to today's changing energy environment. SEEBA, introduced by Congressman Heath Shuler [D-N.C.], gives small firms that are acquiring or developing energy efficient technologies more flexible loan terms.

SEEBA requires SBA to develop a strategy for educating small firms about energy efficiency, and establishes an energy efficiency program for the Small Business Development Centers [SBDCs]. The bill effectively spurs investment in the production of alternative sources, such as biofuels.

H.R. 2389 also promotes development of energy efficient technology by expanding the Small Business Investment Company [SBIC] program, increasing investment in small producers. Creation of the Renewable Fuel Capital Investment [RFCI] program, an initiative designed to help small firms develop renewable energy sources and new technologies, is also included.

Collectively, these measures benefit consumers and producers, thus reducing costs and increasing competition in the market for energy efficient goods and services.

"Small businesses are the first to be affected by rising energy prices, and small businesses will be the first to find the solutions," said Shuler, chairman of the Subcommittee on Rural and Urban Entrepreneurship. "This bill gives them the tools they need to lead our nation to energy efficiency and independence."

SEEBA will make new, energy efficient technology more affordable and accessible. As consumption grows an anticipated one percent annually over the next 25 years, costs for traditional energy sources will continue to increase.

H.R. 2389 will provide technical assistance to help small business owners implement strategies to mitigate energy costs. It also launches a comprehensive plan to disseminate energy efficiency information through programs that are already positioned around the country.

SEEBA will not only help small businesses cope with rising costs, but will also increase investment in small firms that are developing renewable energy solutions, recognizing the leadership of entrepreneurs in the alternative-energy sector.

This bill provides both business development resources and injections of capital that will contribute to creating the next generation of technologies. Simply put, SEEBA is essential to helping small firms cope with rising energy costs and, thus, reducing the nation's dependence on foreign oil.

"Small businesses have proven themselves to be flexible and nimble, adapting to changing to market conditions," said Chairwoman Velázquez. "The legislation approved gives entrepreneurs the tools to implement energy efficient strategies and develop renewable-energy technologies."

H.R. 2389 has garnered support from a wide array of small-business organizations, including: Independent Electrical Contractors, Air Conditioning Contractors of America, National Roofing Contractors Association, Plumbing-Heating-Cooling Contractors Association, National Small Business Association, and Small Business Majority.

GoodBiz113's take: Four months into his new job in Congress, former NFL quarterback Heath Shuler is already scoring on behalf of small businesses -- and everyone else who seeks sustainable energy technologies and energy independence. He's to be commended for taking far-reaching initiative. Congresswoman Velázquez deserves kudos, too, for empowering him to, well, "run with the ball."

Sources: Library of Congress, PBS [photo], U.S. House Small Business Committee
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