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The Green Life: Examining Obama's Stimulus Plan, Part 2: Energy

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March 03, 2009

Examining Obama's Stimulus Plan, Part 2: Energy

Green economy This week, we're taking a look at how the environment figures into the $787 billion American Recovery and Reinvestment Act that Obama signed into law on Feb. 17.

Federal agencies begin reporting their use of funds from the economic stimulus plan today, and the clean-energy industry is being called one of the biggest winners of the recovery package. In his speech to Congress last week, President Obama said the recovery bill would double the nation's supply of renewable energy within a matter of three years:

To fund this ambitious goal, the bill includes $2.5 billion for research and deployment of renewable-energy projects, and $6 billion under the DOE’s loan-guarantee program for projects that reduce greenhouse-gas emissions and promote the development of renewable energy sources.

The stimulus bill also demonstrates a commitment to energy efficiency: $5 billion will go toward helping low-income Americans weatherize their homes, $4.5 billion is slated for remodeling and retrofitting federal buildings, and $6.3 billion is headed for local government investments in energy efficiency.

The stimulus bill may also put you one step closer to an inexpensive plug-in hybrid: $2 billion will be awarded to develop advanced battery technologies.

See the DOE’s recovery page for more details.

-- Mario Aguilar

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