Would you like your company to add Renewable Energy Mutual Funds to your 401(K)?
I would. My 401K is probably so depleted by now that renewable energy funds might just be the thing to enable me to retire to Aruba. Just make sure that Madoff-type investors will be hands-off on this one.
The South Denver Chamber of Commerce is proposing to President-elect Obama to include in the upcoming economic stimulus package a federal tax credit ranging from $40 to $400 per employee to businesses that add a renewable energy fund to their employee 401(k) plans. The plan is for small businesses to receive higher per employee tax credit while corporations will receive a smaller amount per employee but a larger overall tax credit.
They said the proposal will generate $30 to $100 billion renewable energy investment and more than 500,000 clean energy jobs.
"Following the initial technology investment, such as putting up a wind farm or a concentrating solar plant, renewable energy has zero fuel costs. That's an attractive business model. Renewable energy assets are a solid investment in a sector that is well positioned to experience rapid growth," says John Brackney, President South Metro Denver Chamber of Commerce.The South Denver Chamber of Commerce will hold a press conference about the proposal on Wednesday, January 14 at 11:30a.
Doris,
I think that adding renewable energy mutual funds to one's 401(K) portfolio is a good long-term play. However, I do not get the direct connection between investing in renewable energy mutual funds and creating additional clean energy jobs.
I guess more funds means more potential projects, and more projects means more people could be involved to run them.
Its good initiative by new president of USA adding renewable energy mutual funds to one's 401(K) portfolio. I am the solar photovoltaic expert and wish the same initiative is taken by Indian Govt.