Budget reconciliation provides a roadmap for Senate committees to direct the funding toward initiatives over the next decade, including many that align with President Biden’s goal of 80% clean electricity and 50% economy-wide carbon emissions reductions by 2030.
Here are some of the top-line items for climate and renewable energy in the budget reconciliation:
- Development of Clean Electricity Payment Program (referred to as the clean energy standard) that requires a stipulated amount of retail electricity sales to come from clean sources
- Consumer rebates to weatherize and electrify homes
- Financing for domestic manufacturing of clean energy and auto supply chain technologies
- Investments in clean vehicles
- Extension of solar tax credits