https://newsletter.en.creamermedia.com
Energy|Projects|Renewable Energy|Renewable-Energy|Services|Solar
Energy|Projects|Renewable Energy|Renewable-Energy|Services|Solar
energy|projects|renewable-energy|renewable-energy-company|services|solar

Biden pushes out over $100bn in clean energy grants as term winds down

President Joe Biden

President Joe Biden

3rd December 2024

By: Reuters

  

Font size: - +

WASHINGTON - US President Joe Biden's administration has awarded over $100-billion in grants created by its signature climate law, the Inflation Reduction Act, a senior administration official said.

The administration hopes the spending milestone will help to continue the deployment of clean energy even after President-elect Donald Trump, a climate change skeptic who has pledged to rescind all unspent IRA funds, takes office.

"When funds are obligated, they are protected," the official told Reuters. "They are subject to the terms of the contract, so when those contracts are signed and executed, this becomes a matter of contract law more than matter of politics."

The official said the administration is on track to exceed its goal of "obligating" over 80% of IRA grant funding by the end of Biden's term next month.

The IRA also offers a decade's worth of tax incentives for clean energy projects, including for wind and solar installations, and ending those subsidies would likely require an act of Congress.

The IRA's grants and subsidies have driven billions of dollars to renewable-energy projects across the country, with Republican-led states getting the bulk of the benefits.

In August, 18 Republican House members wrote to House Speaker Mike Johnson asking him not to gut the law's incentives because it would jeopardize major investments.

Some of Trump's close allies have also benefited from the IRA, particularly its provisions boosting carbon capture and sequestration, as well as clean hydrogen.

Among the recent awards that pushed the grant funding over the $100-billion milestone are a $119-million contract issued by the General Services Administration to electrify five federal buildings in the D.C. region; $147-million to the National Oceanic and Atmospheric Administration for science and data collection to account for the effects of climate change on fisheries; and an additional $256-million in Rural Energy for America Program grants and loans from the U.S. Department of Agriculture.

Edited by Reuters

Comments

Showroom

Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VISIT SHOWROOM 
Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 21 February 2025
Magazine round up | 21 February 2025
21st February 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.052 0.14s - 167pq - 2rq
Subscribe Now