Congress Approves Clean Energy Provisions of Stimulus; Consistent With Apollo Economic Recovery Act

American Recovery and
Reinvestment Act

Apollo Economic Recovery Act

Totals

Total Investment: $787 billion over two years

Clean Energy/Green Jobs Investment: $110  billion

Will save or create 3.5 million jobs

Total Investment: $50 billion for one year

Clean Energy/Green Jobs Investment: $50 billion

Will create or retain almost 2 million jobs (direct and indirect)

Rebuild America Clean and Green

Energy Efficiency

• $3.2 billion for Energy Efficiency and Conservation Block Grant program, of which $400 million will be disbursed through competitive grants.
• $3.1 biliion for the State Energy Program.
• $4.5 billion for renovations and repairs to federal buildings including focused on increasing energy efficiency.
• $4 billion to HUD for public housing building repair and modernization, including critical safety repairs and energy efficiency upgrades
• $2.25 billion for a new program to upgrade HUD sponsored low-income housing to increase energy efficiency, including new insulation, windows, and furnaces.
• $2.25 billion to the HOME Program to help local communities build and rehabilitate low-income housing using green technologies.
• $4.23 billion for energy efficiency improvements to Department of Defense and Veterans Administration facilities.
• $1.45 billion for military hospital construction and energy efficiency improvements.
• $3.2 biliion increase on limitation on Qualified Energy Conservation Bonds. Expands eligibility for QECBs to include green community programs that use loans or repayment mechanisms to support such programs.
• $510 million for energy-efficient retrofits for Native American housing.
• $4 million to create federal Office of High-Performance Green Buildings.

$6 billion for the Energy Efficiency and Conservation Block Grant (EECBG) Program, One billion dollars should be set aside to leverage private investment in programs focused on large-scale, multi-building retrofit projects that provide job opportunities in urban areas.

• $5 billion for the Weatherization Assistance Program to help low-income families reduce their energy costs by weatherizing their homes and make our country more energy efficient.
• $300 million to provide consumers with rebates for buying energy efficient Energy Star products to replace old appliances.
• Increases tax credit for materials to increase energy efficiency in existing homes to 30% through 2010.

Total: $34 billion

Fully fund the Weatherization Assistance Program at $900 million.

Renewable Energy

• $6 billion in loan guarantees for renewable energy power generation and transmission projects.
• $300 million to the Department of Defense for testing and deployment of energy efficient and renewable energy technologies.
• $1.6 billion in Clean Renewable Energy Bonds (CREBs) to finance RE generation facilities.
• Extends the Production Tax Credit by three years, allows election of Investment Tax Credit in lieu of PTC.
• Provides grants of up to 30% of the cost of building a new renewable energy facility.
• Provides a tax credit of $500 per half-kilowatt of residential fuel cell capacity.
• Expands Industrial development Bonds to include facilities manufacturing intangible property.

Total: $7.9 billion

Fix the Production and Investment Tax Credits for the renewable energy industry by making them refundable through 2009 or by allowing credits to offset taxes paid over the previous ten years.

Grid Upgrades

• $10.9 billion for the Smart Grid Investment Program to modernize the electricity grid

• Invest $10 billion in upgrading the transmission grid to better connect consumers to renewable energy resources, improve reliability and efficiency, enhance emergency response and reduce the system’s vulnerability to natural disaster and attack.
• Invest $1 billion in “smart grid” and “smart metering” demonstration projects.

Carbon Capture
and Sequestration

• $3.4 billion for carbon capture and sequestration technology demonstration projects.
• Provides credit of $20 per ton of carbon captured and stored.

Invest $1 billion in carbon capture and storage demonstration projects.

Public Transit

• $8.4 billion for transit capital investments.
• $9.3 billion for intercity high-speed rail projects and Amtrak.
• Increases the tax exemption allowed for employer-provided public transit benefits
• Increases the speed requirement on high-speed rail system bonds to exceed speeds of 150 mph.

Total: $17.7 billion

Invest $6 billion in ready-to-go public transit projects across the country.

• $27.5 billion for highway projects, including highway and bridge repair and resurfacing projects.
• $1.5 billion to the Department of Transportation for competitive grants to the state and local governments for transportation improvements.
• $142 million to the US Coast Guard for bridge repair projects.
• $100 million assistance to small shipyards.

Total: $29.24

Invest $8 billion to fix the bridges and roads that are crumbling across America.

Make it in America

Domestic Manufacturing

• $2 billion for advanced battery manufacturing.
• Creates 30% investment tax credit for facilities engaged in the manufacture of advanced energy property.

  Total: $2 billion

$4 billion in loan guarantees to leverage $25 billion in loans for retooling and retraining, so that firms can transition to producing products and component parts for the clean energy and energy efficiency sectors; and for industrial efficiency upgrades such as combined heat & power systems.

Invest an additional $200 million in the Manufacturing Extension Partnership network

Alternative-Fuel Vehicles

• $300 million to help states and cities purchase alternative-fuel transit vehicles.
• $300 million to replace older fleet vehicles owned by the federal government with alternative fuel automobiles.
• $400 million for grants to state and local governments for projects to develop infrastructure that supports widespread use of plug-in hybrid electric vehicles.
• $300 million to EPA for diesel emission reduction programs.
• Provides a tax credit of up to $7,500 for purchase of plug-in hybrid vehicles.
• Increases alternative fuel and electricity fueling station property tax credit for businesses to 50%.
• Creates a tax credit for purchase of electric vehicle conversion kits.
• Provides tax credit of up to $7,500 for purchase of plug-in hybrid vehicles.
• Increases alternative fuel and electricity fueling station property tax credit for businesses to 50%.
• Creates a tax credit for purchases of electric vehicle conversion kits.

Total: $1.3 billion

Provide $8 billion in incentives to cities and states to replace aging buses and rail cars with new American-made clean energy vehicles.

Restore America’s Technological Leadership

Research and Development

• $1.6 billion to DOE for research in the basic energy sciences.
• $400 million is for the Advanced Research Project Agency – Energy (ARPA-E).
• $2.5 billion to DOE for energy efficiency and renewable energy research and development.

Total: $4.5 billion

Provide an additional $2 billion in clean energy research and development funds to the Advanced Research Projects Agency for Energy (ARPA-E), allowing the agency to better address the nation’s most urgent energy needs through research and the rapid development of cutting-edge, transformational technologies.

Commercialize New Technologies

Establish a National Energy Innovation Fund, initially funded at $1 billion, to commercialize the most promising clean energy projects and technologies currently emerging from our nation’s laboratories.

Climate Change Research

• $830 million to NOAA for research, satellite development and acquisitions, including for climate sensors and climate modeling.
• $550 million to NASA for equipment and instruments for climate change research.

Total: $1.38 billion

Tap the Productivity of the American People

Green Jobs Training

• $500 million for WIA training programs in the renewable energy and energy efficiency sectors defined in the Green Jobs Act.
• $250 million to upgrade Job Corps training facilities serving at-risk youth while improving energy efficiency and providing career training in the energy efficiency sector.
• $50 million for YouthBuild programs that rehabilitate affordable housing, including energy efficiency retrofits
• $100 million for worker training as part of the Smart Grid investment program.
• $250 million for high growth industries including advanced manufacturing.

Total: $1.15 billion

Invest $250 million in the Green Jobs Act.

National Service

• $200 million to put approximately 16,000 additional AmeriCorps members to work doing national service, meeting needs of vulnerable populations and communities during the recession – not specifically in clean energy sectors

Provide additional investment of $300 million to the Service and Conservation Corps program to create a “Clean Energy Service Corps.”

Support for Science and Math Education

• $17.11 billion for additional Pell grants, to help low-income students access a college education.
• $100 million to the National Science Foundation for scholarship in math, the sciences, and engineering.
• Increases higher education tax credit and makes it partially refundable for low-income families

Invest $250 million to immediately provide 25,000 Clean Energy Tomorrow annual scholarships, at $10,000 each, to help students in these tough economic times to pursue undergraduate degrees in science, math, or engineering.

Other Elements Worth Noting

Broadband

• $7.2 billion for broadband and wireless services in underserved areas to strengthen the economy and provide business and job opportunities in every section of America with benefits to e-commerce, education, and healthcare.

Worker Protection Oversight

• $80 million to the Department of Labor to ensure that worker protection laws are enforced as recovery infrastructure and unemployment insurance investments are carried out.

Economic Development

• $1 billion in Community Development Block Grants for community and economic development projects including housing and services for those hit hard by tough economic times.
• $150 million for the Economic Development Assistance Program to address long-term economic distress in urban industrial cores and rural areas distributed based on need and ability to create jobs and attract private investment.
• $12 billion in Recovery Zone and Tribal Economic Development Bonds.
• $100 million for Community Development Financial Institutions.

Small Business Assistance

• $636 million to the Small Business administration for new direct lending and loan guarantee.
• $150 million for Rural Business Enterprise Grants and loan guarantees.
• $69 million for Small Business Administration to provide improved technical assistance.

State Budget Stabilization

• $53.6 billion in State Fiscal Stabilization Funds to governors, primarily for education, including school renovations and improvements, but also for public safety and other critical services.