The new Apollo Initiative calls for a large scale federal commitment, on the scale of $30 billion/year for 10 years, to achieve a new energy infrastructure that is diversified, environmentally safe, and more efficient. This initiative will turn challenge into opportunity. It will generate good jobs and help US companies capture the green markets of the future. It will reduce dependence on foreign oil. It will rebuild communities, and it will make America an environmental leader again, helping put the world on a path to a sustainable future.
The new Apollo Initiative will achieve these benefits by pursuing four broad strategies
- Diversify our energy sources: making America less dependent on foreign oil, while making energy more secure, more affordable and reliable, and less polluting
- Invest in the industries of the future: promoting new technology, improving manufacturing processes, and expanding markets for American durable goods.
- Promote construction of high performance, energy efficient buildings: saving money and rebuilding more livable, more equitable, and healthier environments, and
- Drive investment in cities and communities: renewing our commitment to building smart public infrastructure for transportation, energy, and other vital public services.
Taken together, these strategies combined with national commitment, public investment, meaningful standards, and political will, can bring about enormous benefits for both America and the world.
Detailed analysis of the potential economic benefits reveals the promise of Apollo. A $30 billion investment per year for 10 years would provide the following benefits:
- Add more than 3.3 million jobs to the economy
- Stimulate $1.4 trillion in new Gross Domestic Product
- Stimulate the economy through adding $953 billion in Personal Income and $323.9 billion in Retail Sales
- Produce $284 billion in net energy cost savings