Lawmakers Seek to add $235B in Clean Energy

Biden’s reconciliation package may allocate billions in clean energy.

According to Energy News Network, Congress has a long-standing aversion to climate policy. Cap and trade saw a spectacular death in 2010. A plan to pay utilities for selling more clean electricity was axed this month. And proposals to tax carbon dioxide emissions never had a chance. But there is one major exception to lawmakers’ reluctance to tackle greenhouse gases: clean energy subsidies.

Congress passed the first production tax credit for wind in 1992. The PTC has been extended 13 times since then. Solar energy and carbon capture have long-standing incentives as well. Now, lawmakers appear poised to double down. The reconciliation package contains roughly $235 billion in incentives for everything from wind and solar to emerging technologies like green hydrogen and sustainable aviation fuels. By contrast, the economic stimulus package passed in 2009 offered $90 billion in clean energy spending.

Read More

This website, digital publication, and all of its contents are the copyright protected legal intellectual property of Builder Media. None of the protected content of this publication may be copied, shared, forwarded, reposted, reformatted or in any way utilized for any purpose without the written permission of the Publisher, under penalty of suit as provided by U.S and International laws governing copyright.