Finally: Senators Unveil Their Climate Bill (But Will It Pass?)

Senators John Kerry (D-Mass.) and Joe Lieberman (I-Conn.) introduced their long-awaited and controversial climate bill today. The bill aims for a 17% reduction in emissions by 2020 with a number of mechanisms such as carbon cap and trade and a strengthened EPA. Utilities such as FPL Group and Duke Energy and major Smart Grid stakeholders such as GE lobbied in favor of the bill. Kerry and other supporters have said now is the time to get a good bill passed rather than wait for the "perfect bill," but its chances for passage are questionable. A House climate bill was passed in June 2009 by an extremely narrow margin: 219-212.

Quick Take: Stakeholders in the Smart Grid know how important passage of a strong climate bill is, and supporters such as environmental advocates have said it's needed to give businesses the confidence (courage?) to continue investing in secure renewable and other clean energy projects. Can the bill survive polarized politics and sticking points like nuclear and offshore drilling? Wait and see.

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