The American Clean Energy and Security Act of 2009 ("ACES") comprehensively addresses:

• CLEAN ENERGY - Promoting renewable sources of energy and carbon capture and sequestration technologies, low-carbon transportation fuels, clean energy vehicles, and smart grid and electricity transmission;
• ENERGY EFFICIENCY - Increasing energy efficiency throughout the economy, including buildings, appliances, transportation and industry;
• GLOBAL WARMING REDUCTION - Limits emission of heat trapping pollutants; and
• TRANSITION - Protecting US consumers, industry and green job promotion over multi-year transition.

CLEAN ENERGY:

• Renewable Energy requires retail electricity suppliers to meet a percentage of generation from renewable sources (i.e. wind, biomass, solar, geothermal) at 15% in 2020.
• Carbon Capture and Sequestration promotes technologies for carbon and greenhouse gas capture and sequestration, with incentives and performance standards.
• Clean Fuels and Vehicles adopts low carbon fuel standard and promotes biofuel with grants and loans for electric vehicles and car companies to retool.
• Smart Grid and Transmission gives incentives for deployment of smart grid with FERC modernizing electric grid for renewable source power.
• Partnering with States to form State Energy and Environment Program (SEED) Fund to receive funds for projects.
• Federal Agencies will get long term purchase contracts for renewable source electricity.

ENERGY EFFICIENCY:

• Building Energy Efficiency gives funding to states to adopt new energy efficiency codes and retrofit commercial and residential buildings.
• Manufactured Homes gives rebates to low-income families in pre-1976 homes for energy-Star new manufactured homes.
• Appliance Energy Efficiency guides efficiency standards for lighting and other appliances. Transportation Efficiency synchronizes federal fuel and emissions standards for vehicles and sets standards for locomotives, marine vessels and non-road sources. Also requires state and large metropolitan areas to submit plans to EPA.
• Utilities Energy Efficiency dictates energy saving requirements on utilities for gas and electricity; cumulatively electricity 15% and gas 10% by 2020 Industrial Energy. It will be the new standard for efficiency.
• Public and Federal Efficiency will make nonprofit hospitals and public health facilities eligible for grants and loans for energy efficiency.

REDUCING GLOBAL WARMING POLLUTION:

• Reduction Program is a market based program to cover 85% of U.S. emissions sourced from electric utilities, oil companies and large industrial sources. There will be a U.S. reduction of 17% (from 2005) by 2020 and 80% by 2050. Initially 70% of allowances (allocated by government without cost, worth $90 billion, phased out between 2025 and 2030) and offsets (open market purchases, worth $13 billion by 2020).
• Supplemental Pollution Reductions by the EPA. They will work to achieve international deforestation reduction of 10% by 2020.
• Offsets of a maximum 2 billion tons per year, evenly divided between domestic and international. Banking and Borrowing will permit unlimited "banking" of allowances for future years' compliance, and limited current use of future credits.
• Strategic Reserve of allowances created by the EPA to cushion price rises that can be "faster than expected."
• Carbon Market Assurance and Oversight will be regulated by the FERC. Additional Greenhouse Gas Standards will be set by the EPA for emissions not covered in current system starting with black carbon and hydroflourocarbons, under Clean Air Act.

TRANSITION:

• Ensure Domestic Competitiveness will give rebates to compensate for additional costs of program.
• Green Jobs/Worker Transition will provide grants to universities and colleges for curriculum and training programs for careers in renewable energy, energy efficiency, or other forms of climate change mitigation, by Education and Labor Secretaries.
• Export Clean Energy will deploy clean technologies to developing countries.