Wednesday, February 25, 2009

Renewable Energy Content In the Stimulus Law

President Barack Obama signed the American Recovery and Reinvestment Act into law on February 17. The law includes about $60 billion worth of investments in energy efficiency measures and renewable-energy technology, out of $787 billion in total allocations.

Here is a detailed article describing the "clean technology" funding in the bill, including $5 billion towards the Weatherization Assistance Program, as well as $4.5 billion for activities to modernize the nation's electrical grid.

The Natural Resources Defense Counsel (NRDC) provides this summation of much of the law's "green" funding:

  • $6 billion for clean and safe water
  • $4.5 billion for greening federal buildings
  • $2.5 billion for energy efficiency and renewable energy Research and Development
  • A multi-year extension of the renewable production tax credit
  • $6 billion in loan guarantees for renewables, transmission and leading edge biofuels
  • $2 billion for advanced batteries
  • $9.3 billion for intercity rail, including high-speed rail 
  • $27.5  billion for highways (this large pot of money is not exclusively for highways, and states and cities must use this flexibility to invest in fuel-efficient public transportation)

Apparently, $50 billion for loan guarantees involving liquid-coal and nuclear energy has been removed from the bill, according to the NRDC.

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