US House and Senate Move Forward on American Recovery and Reinvestment Act

Renewable Energy World.com
January 28, 2009
by Graham Jesmer, Staff Writer

Stimulus package in discussion includes favorable provisions for renewable energy industry

Washington, D.C., United States [RenewableEnergyWorld.com]
The U.S. House of Representatives may vote as early as next week on a stimulus package that could bring relief to the beleaguered American economy. Known as the American Recovery and Reinvestment Act of 2009, the bill (H.R. 598) contains provisions that could help bring stability to the renewable energy industry amid the tough economic environment. The bill was introduced in the House of Representatives on January 16, 2009 as part of the US $825 billion economic stimulus plan that President Barack Obama has been touting since before his inauguration last week.

Of the US $550 billion allocated by H.R. 598 as it now reads, $8 billion is set aside as loans for renewable energy power generation and transmission projects. US $2 billion will go to energy efficiency and renewable energy research, development, demonstration and deployment activities. These funds will be awarded on a competitive basis to universities, companies and national laboratories. An additional $2 billion will be put into grants for advanced battery technology and $4.3 billion for various energy efficiency initiatives.

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