The American Clean Energy and Security Act of 2009, now commonly referred to as the Waxman-Markey bill after its primary sponsors Congressman Henry Waxman of California and Congressman Edward Markey of Massachusetts, was a major legislative effort to address climate change by encouraging the growth of renewable energy sources and reducing energy use.
Limitations on Carbon Emissions
The bill imposed mandatory limits on the emissions of greenhouse gases covered by the 2008 United Nations Framework Convention on Climate Change. This covered the emissions of carbon dioxide from sources like automobiles and power plants. The bill also established a cap and trade system to limit the emissions of those gases.
Economic Incentives for Energy Efficiency and Clean Technologies
The bill also provided economic incentives and resources to increase the energy efficiency of buildings and appliances, promote the development of renewable energy sources, and fund technological innovation in areas such as carbon capture and storage (CCS), nuclear energy, and advanced biofuels. Additionally, the bill sought to establish incentives to speed up investment in clean energy technology.
Conclusion
All in all, the American Clean Energy and Security Act of 2009 was a wide-ranging bill that sought to address the environmental challenges posed by climate change. It sought to reduce greenhouse gas emissions, increase energy efficiency, promote the development of renewable energy sources, and fund technological innovation in areas such as carbon capture and storage, nuclear energy, and advanced biofuels.