At ~$1 TRILLION in total clean investment, what Biden is proposing in American Jobs Act is not just bigger than the clean investment in the Recovery Act of 2009 (~$90b), it's bigger than the ENTIRE Recovery Act (~$831b)!
Details ⤵️
The White House Fact Sheet here details more than $550 billion in what we can classify generally as clean investment, incl:
$174b for EVs
$165b for public transit & rail
$100b for grid
$46b for clean energy manufacturing
$35b clean energy RD&D
& more:
IN ADDITION, @washingtonpost reports "The plan will also include approximately $400 billion in clean-energy credits on top of the $2.25 trillion in new spending."
That takes the total clean investment in the American Jobs Act to >$950 billion.
The more I sit with the 25-page overview of the Biden #Infrastructure & #JobsPlan, the more it's clear: the measure of a plan is not the total $ it spends but its impact. There is a lot in this plan that isn't clearly scored w/$ figure. But the total impact looks transformative.
This #JobsPlan presents a vision for how to rebuild the U.S. economy. That vision clearly places at its center a set of investments to build a clean energy economy, enhance resilience to climate change & extreme weather, and address persistent environmental injustices.
Why do I say the #JobsPlan's clean energy investments look transformative?
My group at Princeton will be taking a close look at the plan & modeling its impact in coming weeks (as details become clearer), but let's take a first look at this thing together whitehouse.gov/briefing-room/…
At ~$1 TRILLION in total clean investment, what Biden is proposing in #JobsAct is not just bigger than clean investment in the Recovery Act of 2009 (~$90b), it's bigger than the ENTIRE Recovery Act (~$831b)!
The White House Fact Sheet here details more than $550 billion in what we can classify generally as clean investment, incl:
$174b for EVs
$165b for public transit & rail
$100b for grid
$46b for clean energy manufacturing
$35b clean energy RD&D
& more: whitehouse.gov/briefing-room/…
IN ADDITION, @washingtonpost reports "The plan will also include approximately $400 billion in clean-energy credits on top of the $2.25 trillion in new spending."
That takes the total clean investment in the American Jobs Act to >$950 billion.
#ClimateAction is embedded throughout the 'American Jobs Plan,' including over $500b in what could be described as 'clean investment.' That's more than 5-times larger that the 2009 Recovery Act's spending on similar areas for context. An overview: nytimes.com/interactive/20…
🧵New paper in @NatureEnergyJnl evaluating long-duration energy storage technologies.
Innovative, low-cost storage could make a decarbonized electricity system more affordable and reliable, and partially substitute for clean firm generation.
In addition to updating economy-wide emissions goals for the first time since 2008, the new law: codifies environmental justice rules, directs the utility commission to prioritize equity & emissions cuts, sets EV goals, requires more renewable energy, and much more.
Sally Benson, Rob Jackson, David Victor & @colvin round out team.
This major effort was assembled after California passed the landmark SB100 legislation in late 2018, setting a requirement to reach 100% carbon-free electricity by 2045.
Our question: how can California decarbonize by 2045 without sacrificing reliability or affordability?