October Declared National Renewable Energy 401(k) Month

$350 Billion in Clean Energy Investment via 401(k) and IRA plans Could Generate Massive Increase in Wind and Solar Production

Oct 07, 2010, 15:40 ET from The Renewable Energy Initiative

DENVER, Oct. 7 /PRNewswire/ -- The Renewable Energy Initiative (TREI) is pleased to announce that October is being declared National Renewable Energy 401(k) Month at a groundbreaking conference being held in Denver.  

The 3rd Annual International Conference on Energy, Logistics and the Environment is being sponsored by the Global Commerce Forum. TREI helped organize panel presentations that will include human resources professionals and others who influence the decision to add targeted renewable energy funds to 401(k) plans. One of the goals of the panels is to encourage companies across the country to add existing publicly traded renewable energy funds to the 401(k) choices of more than 50 million Americans. As Ken Beitel, advisory board chair of TREI explained: "We can grow the American economy, lower the cost of energy and create a healthy environment by investing in a clean energy future."

The Renewable Energy 401(k) panel opens the conference on Friday, October 8, at 9:00AM. Large 401(k) plan providers and renewable energy companies will speak on the ease of adding a renewable fund choice to a plan.

Denise Kay, Esq., a TREI board member and legislative director for the Society of Human Resource Management (SHRM) sees this opportunity as having a double benefit: "Adding a renewable energy fund to the 401(k) plan is a solid way for companies to increase employee satisfaction and attract new customers."  

In addition to demonstrating the availability and ease-of-use of the funds, showcasing renewable energy firms and the ways they use monies that are invested in them, is also a key focus. Panelists from Akasha Energy and Main Street Power will discuss how renewable energy technologies are cost effective revenue generators and strengthen America's National Security.

An impressive 89% of Americans support increased wind and other forms of renewable energy production (March 2010, Newhouse, Bennett poll). Yet despite being the primary investment tool of more than 50 million Americans (an estimated $7 billion is currently invested in 401(k) and IRA plans), less than 1% of those plans and IRAs currently offer Americans the opportunity to invest in renewable energy.

About $20 billion per year is being invested in new U.S. wind and solar production. TREI Board member James Muchmore, a corporate securities attorney with Patton Boggs LLP, notes the potential for swift new growth:  "Providing employees with the opportunity to invest in the fast growing clean energy sector can generate a remarkable $350 billion in new renewable energy investment over 4 years. This is a win-win for business and the environment."

The Renewable Energy Initiative (TREI) is an educational non-profit organization that works to strengthen the American economy, create jobs, and build a healthy environment by increasing renewable energy production, use, and investment. Their mission is to empower organizations and individuals to create a Clean Energy Future through education, public outreach and research activities.

For more information, please contact Ken Beitel at (720) 436-2465 or visit www.TREI.us.


Ken Beitel



SOURCE The Renewable Energy Initiative