Well, we finally got an economic stimulus bill agreed, and it looks like it is going to be pretty good in terms of green -- much better than I expected actually. The $789 billion economic-recovery bill is expected to pass the Senate and House by the end of the week. President Obama hopes to sign it into law by Presidents' Day.
The final bill contains upwards of $62 billion in direct spending on green initiatives and $20 billion in green tax incentives. Here is a quick breakdown courtesy of Grist:
Energy transmission and alternative energy research:
* $11 billion for smart grid
* $7.5 billion for renewable energy and transmission-line construction
* $400 million for the Department of Energy's Advanced Research Project Agency for Energy for the development of alternative energy sources and efficiency
Efficiency:
* $4.5 billion for energy-efficiency improvements to federal buildings
* $6.3 billion for local government energy-efficiency grants
* $2.25 billion for energy-efficiency retrofits for low-income housing
* $2.25 billion for the HOME Investment Partners Program to retrofit community low-income housing
* $5 billion for the Weatherization Assistance Program for efficiency in low-income households
* $510 million for energy-efficiency retrofits for Native American housing programs
* $420 million for energy-efficiency improvements at the Department of Defense
* $300 million for Department of Defense research on energy efficiency at military installations
* $300 million for the appliance rebate program for Energy Star products
Mass transit and advanced automobiles:
* $8.4 billion for transit capital assistance programs
* $8 billion for Amtrak and intercity passenger rail
* $300 million for the purchase of more alternative-fuel and hybrid vehicles for the federal fleet
* $300 million in grants and loans for technologies that reduce diesel emissions
Green jobs training:
* $500 million for green jobs programs through the Workforce Investment Act
The thing about this bill that really surprises me is that all funding for coal and nuclear was dropped. I cannot believe that we were able to make the compromise to drop coal. I am just flabbergasted – I definitely expected the compromise to go the other way. In fact, it looks like when all is said and done, this bill is GREENER having gone through the conference between both houses then it was when it started. Kudos all around.
