Thread by @jsfreed

Okay, everyone, we’ve been crunching the BID numbers to see what’s in this deal and how it’ll impact clean energy and climate. Warning, this is a long 🧵 … 1/

This isn’t #HotFERCSummer (h/t @RepCasten) but the TL;DR verdict - this is the down payment for the US to go big, like really big, on clean energy, climate, and jobs.

https://twitter.com/RepCasten/status/1420428760755621888?s=20

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Let's get to the details! 3/

$27.65B for grid infrastructure, resiliency & reliability. This means connecting a lot more clean electricity to places that need it. Including $2.5B revolving loan fund from DOE for new transmission & upgrades + $3B for Smart Grid investments. 4/

This grid investment would create roughly 25,800 average annual jobs over five years! thirdway.org/memo/how-to-cr… 5/

Also gives leeway for DOE to designate corridors of nat’l interest & FERC ability to issue construction permits for some interstate transmission if states withhold/deny applications. Big step to address challenges w/ transmission. 6/

We also love $40B to deploy broadband to unserved areas + continuation of the affordability program to help low-income folks. 7/

There’s $7.5B for EV/alternative charging. This could enable us to meet Biden/Harris goal of 500,000 additional charging stations- depends on how much $ goes to EV charging vs. H2, propane, & ng 8/

$39.15B in public transit. This is an 83% increase for transit over FAST Act. Includes $8B for new transit construction/expansion & $5.25B for Low/No emissions program for clean buses 9/

$4.7B for orphaned gas wells. By our estimates, this could clean up ~248,200 wells and create 10,039 avg. annual jobs over 5 years (for context, @CAPenergypolicy estimate 57,000 documented orphan wells, but up to 746,000 more undocumented) 10/

$3.5B for 4 direct air capture (DAC) hubs. Hubs can unite DAC facilities with industrial consumers and storage sites to remove and keep CO2 out of the atmosphere. Huge for climate. Also huge potential to drive econ develop + jobs. 11/

$8B to establish 4 regional hubs for clean hydrogen production, transport and use. This investment can help clean H2 industry take off. 12/

More hydrogen! $500M to support a domestic supply chain for clean H2, plus $1B to demo and bring down cost of H2 produced by electrolysis (green hydrogen). 13/

$8.3B to fund vital innovation programs from the Energy Act of 2020. Includes demonstrations of energy storage, advanced nuclear, carbon capture, wind, solar, geothermal, and industrial emissions reduction + a prize competition for direct air capture. 14/

An extra $500M for clean energy demonstration projects on current and former mine lands (FY22-26). 15/

Quick aside … advanced nuclear is a field in which the US is well-positioned to compete for what’s potentially a massive global nuclear market. thirdway.org/memo/mapping-t… 16/

$8B in investment tax credits for facilities that manufacture a huge range of clean energy products (48C). Half will go to struggling coal communities. Most tax incentives going in reconciliation, but this one found its way into the deal. thirdway.org/memo/manufactu… 17/

This investment in 48C would create 36,252 average annual jobs over 5 years. 18/

$3B for battery material processing grants + $3 billion for battery manufacturing and recycling grants. These kinds of investments are needed to spur domestic industry and reduce dependence on global competitors. 19/

Adds to efforts by Congress and Biden Admin to make @ENERGY’s Loan Programs Office more effective. Makes financing more accessible to smaller firms and manufacturers of medium- and heavy-duty vehicles.(here’s a cheat sheet on how what LPO can do: thirdway.org/memo/how-to-un…) 20/

There’s a credit auction program meant to keep struggling nuclear plants from being replaced by nat gas.This is important for climate and union jobs. Still need to pursue option of a nuclear PTC like the one proposed by @SenatorCardin & Rep @BillPascrell in reconciliation. 21/

All this just in the Big Infrastructure Deal. There’s more we still need. Thats why were working to get other items like incentives to ensure utilities sell more clean power, a Civilian Climate Corps, and various tax credits and investments in reconciliation. 22/

Whew! That's a lot! Oh, yeah ... one more thing. /End