ITA Says Renewable Energy Export Initiative Met Initial Goals
The International Trade Administration states that one year after its launch, the Obama Administration’s Renewable Energy and Energy Efficiency Export Initiative (RE4I) has met its target goals of simplifying the process of obtaining export financing, facilitating a significant increase in renewable energy and energy efficiency activities by both the U.S. Export-Import Bank and the Overseas Private Investment Corporation, and improving export promotion services and market access for U.S. renewable energy and energy efficiency companies.
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“The Department of Commerce’s International Trade Administration is committed to achieving the goals of the President’s National Export Initiative to achieve economic and job growth,” said Assistant Secretary of Commerce Nicole Y. Lamb-Hale, who co-chaired the multi-agency effort to create the RE4I. “Turning the lens of the NEI on the high-growth sectors of renewable energy and energy efficiency is critical to this effort.”
Under the auspices of the RE4I, the International Trade Administration created a Renewable Energy and Energy Efficiency Advisory Committee to develop consensus recommendations on improving U.S. export competitiveness in renewable energy and energy efficiency. The committee recently announced its first 11 recommendations to the Secretary of Commerce, which included outlining steps towards establishing a strong domestic clean energy market, expanding access to capital, and addressing gaps in both information and competitiveness in global RE&EE markets.