Thursday, February 12, 2009

$50B in stimulus plan

The Senate on Wednesday reached an agreement on a massive government stimulus bill that includes tens of billions of dollars for energy through direct government investments and tax incentives.

The Senate pared down the package to $790 billion from the House's $820 billion version, but the majority of energy-related infrastructure spending and incentives remain in the compromise bill. Final votes on the bill, called the American Recovery and Reinvestment Act of 2009, in both houses could happen on Friday.

Overall, there is $50 billion for energy programs, much of it focused on energy efficiency and renewable energy, and $20 billion in tax incentives for renewable energy and efficiency, according to a conference report released by House Speaker Nancy Pelosi's office (click for PDF) and an Associated Press analysis. Provisions include:

  • $5 billion to weatherize homes of up to 1 million low-income people.

  • $11 billion toward smart-grid technologies to run the power grid more efficiently.

  • $13.9 billion in loans to subsidize renewable-energy projects and transmission.

  • $6.3 billion in state energy-efficient and clean-energy grants.

  • $4.5 billion to make federal buildings more energy efficient.

http://news.cnet.com/8301-11128_3-10159513-54.html?part=rss&subj=news&tag=2547-1_3-0-5

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