REEEP North America Hails U.S. Government’s Unprecedented Plan For Energy Efficiency and Renewable Energy
Washington, D.C., 17.02.2009 - REEEP North America
The Renewable Energy and Energy Efficiency Partnership (REEEP) says the American Recovery and Reinvestment Act (ARRA), signed into law February 17, 2009 by President Barack Obama, is the most significant U.S. economic package in decades and good news for energy efficiency and renewable energy industries and advocates. REEEP said the new law will create millions of “green” jobs and jumpstart the nation’s ailing economy by investing billions of dollars of federal spending and tax relief for energy efficiency and renewable energy projects that will also reduce greenhouse gas emissions and move the U.S. toward greater energy security and independence.
“The energy efficiency and renewable energy communities look forward to helping the U.S. take a leadership role in using clean energy resources to their fullest,” said Maria Ellingson, Senior Program Manager for REEEP North America. “The plan is in line with Obama’s stated goal of doubling U.S. production of alternative energy within three years.”
ARRA includes billions of dollars in appropriations for pre-existing programs, primarily administered by the Department of Energy (DOE), as well as several new and modified programs. It will increase renewable energy production and renovate public buildings to make them more energy efficient. In addition, the law includes important changes to the Internal Revenue Code concerning tax credits and other tax-based subsidies.
Some highlights of the energy provisions within ARRA include:
- $5 billion for the Weatherization Assistance Program, which will go a long way in meeting President Obama’s goal of weatherizing one million low income families homes per year while creating an estimated 32,000 jobs in the auditing and retrofitting industries;
- $4.5 billion to make 75 percent of federal buildings more energy efficient;
- $3.1 billion for the State Energy Program (SEP), which delivers important energy efficiency services and innovations in every state; the language contains incentives for states to adopt utility regulatory reform and stronger building energy codes; this program has the needed infrastructure to quickly absorb the new funding and create new jobs;
- $300 million for state matching grants for rebates to consumers who purchase higher-tier energy-efficient appliances;
- $3.2 billion for Energy Efficiency and Conservation Block Grants (EECBG) that will allow state and local governments to aggressively implement energy efficiency programs ($400 million of the EECBG funds to be awarded on a competitive basis);
- More than $8 billion for state and local government investments in public transportation;
- $4.5 billion to modernize the nation’s electricity grid with smart grid technology;
- $2.5 billion for renewable energy and energy efficiency R&D, demonstration and deployment activities;
- A tax credit for families that purchase plug-in hybrid vehicles of up to $7,500 to spur the next generation of American cars;
- $10 billion in new loan guarantees aimed at standard renewable project such as wind or solar projects and for electricity transmission projects.
- Extension of tax credits through 2010 for homeowners who make specific energy efficiency home improvements and a tripling of the credit amount to $1,500 for 30 percent of the cost of each qualified improvement.
For the entire ARRA bill narrative, click here http://www.whitehouse.gov/the_press_office/arra_public_review/
To learn more about the energy efficiency provisions, click here http://ase.org/content/article/detail/5388
For more about the renewable energy provisions, click here http://www.acore.org/files/images/email/acore_stimulus_overview.pdf