Obama proposes billions for renewables, carbon capture and more
A proposed $825 billion programme to revive the US’s tottering economy includes spending for a long list of clean and green initiatives.
Unveiled this past week by President-elect Barack Obama and Democratic members of the House of Representatives, the plan calls for heavy investment in renewable energy development, electric grid modernisation, carbon capture projects and scientific research.
Among the key green elements of the proposal:
- $11 billion to develop a clean and modern energy grid throughout the country;
- $8 billion in loans for renewable energy projects;
- $6.9 billion in grants to help states and local governments improve energy efficiency and reduce carbon emissions;
- $6.2 billion to weatherize the homes of low-income citizens and improve energy efficiency;
- $6 billion to improve and increase public transportation;
- $2.4 billion for carbon capture and sequestration projects;
- $2 billion for research into energy efficiency and renewable energy;
- $2 billion in loan guarantees and grants for makers of advanced batteries;
- $1.9 billion for Department of Energy research;
- $1 billion in grants for new commuter rail or light rail projects;
- $600 million to NASA for efforts including research into climate change and water management;
- $600 million for satellites to help with climate measurements and modeling; and
- $200 million in grants to promote electric vehicle technologies.
“(T)hink of what’s happening in countries like Spain, Germany and Japan, where they’re making real investments in renewable energy,” Obama said Friday during a visit to a plant in Ohio that makes parts for wind turbines. ” They’re surging ahead of us, poised to take the lead in these new industries. This isn’t because they’re smarter than us, or work harder than us, or are more innovative than we are. It’s because their governments have harnessed their people’s hard work and ingenuity with bold investments — investments that are paying off in good, high-wage jobs — jobs they won’t lose to other countries.”
