Well, we've done it. Though I have my misgivings, the U.S. Congress has signed a massive stimulus package for $787 billion. The good news in my view is that the bill dedicates significant dollars for energy programs and tax credits focused largely on energy efficiency, renewables and smart electricity grid projects. The Detroit Free Press gives a very clear breakdown of spending if you're looking for an "at a glance" view here. Some of the measures I'm most interested to see play out:
- $18 billion for clean water, flood control and environmental restoration.
- $8 billion for high-speed rail.
- $4.5 billion to make federal office buildings more energy-efficient.
- $30 billion for a smart power grid, advanced battery technology and other energy efficiency measures.
- $20 billion in tax incentives for renewable energy and energy efficiency over the next 10 years.
- $6.3 billion for energy efficiency in multifamily housing getting federal assistance, such as HUD-sponsored low-income housing.
- $5 billion to weatherize more than 1 million homes owned by “modest-income” families.
- $1.6 billion for the Department of Energy’s Office of Science for areas such as climate, biofuels, high-energy physics, nuclear physics and fusion energy.
- $1 billion for NASA, including $400 million for climate change research.