NEWS: Stimulus Package Provides 78.6 Billion for Green

NEWS: Stimulus Package Provides 78.6 Billion for Green

Cambria Bold
Feb 23, 2009

The $787 billion economic stimulus package that President Obama signed last Tuesday included $78.6 billion for energy tax breaks, green infrastructure projects and other green energy initiatives — approximately 10% of the total bill. Specifically, the bill included $32.80 billion for cleaner energy, $26.86 billion for greater energy efficiency, and $18.95 billion for greener transportation.

For more breakdowns on the impact the stimulus package will have on green projects (and to see TreeHugger's excellent slideshow on tax credits you can earn simply by buying green), click below...

Here are just a few of the breakdowns:

* $11 billion in spending and loan guarantees to build a "smart grid" to move renewable electricity supplies and build 3,000 miles (4,800 km) of transmission lines.

* $8.4 billion in public transit, saving 10.3 million barrels of oil and creating or preserving 252,000 jobs, with $1.5 billion set aside for expanding capacity and upgrades to existing transit systems.

* $8 billion for new high speed rail projects.

* $6 billion in loan guarantees for renewable energy projects and electricity transmission projects.

* $5 billion for the Weatherization Assistance Program for low income families.

* $4.5 billion in green building funding to improve energy efficiency of the federal government (estimate $2 billion a year in energy savings).

* $3.4 billion in funding for "fossil energy" research, like clean coal.

* $3.1 billion to help citizens and businesses save energy.

* $3.2 billion in block grants for local government energy efficiency and renewable energy projects.

* $2.5 billion for energy efficiency and renewable energy research.

* $300 million for federal fuel efficient vehicles.

TreeHugger puts it all in layman's terms in The Stimulus Bill Tax Credit Guide, so check that out as well.

For more reading, check out GreenStocks, Environment America, Reuters, and The New York Times.

Related Links:

2009 Green Tax Credits

o (Top Image: Flickr member Luis Alves licensed under Creative Commons)

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