Stimulating Renewable Energy…
February 19, 2009
The massive $787 billion stimulus bill was signed into law on Tuesday and people are beginning to digest what was inside it. According to Recovery.gov, in general, the bill is allocated in the following manner:
- Tax Relief $288 billion
- State and Local Fiscal Relief $144 billion
- Infrastructure and Science $111 billion
- Protecting the Vulnerable $81 billion
- Health Care $59 billion
- Education and Training $53 billion
- Energy $43 billion
- Other $8 billion
Of course what is of interest to us is the $43 billion allocated for energy. With $22 billion in tax relief also going towards energy, the total investment in energy is actually $65 billion. This stimulus money allocated for energy is broken-down as follows:
- $11 billion for a more reliable and efficient electricity grid.
- $6 billion for loans guarantees for renewable energy power generation and transmission projects
- $4.5 billion for U.S. General Services Administration (GSA) for making Federal Buildings more energy efficient
- $6.3 billion in grants to help state and local governments invest in programs to become more energy efficient and reduce carbon emissions
- $250 million to increase energy efficiency for low-income housing sponsored by the Department of Housing and Urban development
- $2.5 billion for energy efficiency and renewable energy research
- $2 billion for advanced batteries and battery systems for vehicles
- $5 billion for home weatherization
- $300 million to provide consumers rebates for buying energy efficient Energy Star appliances
- $300 million to replace federal vehicles for alternative fuel and plug-in automobiles
- $400 million for a new grant program to encourage electric vehicle technologies
- $3.4 billion for technology projects to capture carbon
- $300 million for research to power weapon systems and military bases with renewable energy
- $300 million to help state and local governments purchase efficient alternative fuel vehicles
- $300 million for projects that reduce diesel emissions
- $500 million for training people for green jobs (energy efficiency and renewable energy fields)
- $2 billion for science and technology to be given to the Department of Energy for research into the physical sciences.
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