![]() Treasury Secretary Janet Yellen said the bonuses will add new credits of up to 10% for clean energy production in struggling energy communities. The new investments “can help them bring this new energy economy to life,″ she added. Mining areas in Appalachia and other parts of the country have long had the infrastructure, workforce, expertise and “can-do attitude” to produce energy, Granholm told reporters on Monday. “It’s very clear that … the workers who powered the last century of industry and innovation can power the next one,” said Energy Secretary Jennifer Granholm, whose agency will oversee the new grant program. But he has struggled to realize that goal in the first two years of his presidency. Biden highlighted the former Brayton Point power plant in Somerset, Massachusetts, calling it the embodiment of the transition to clean energy that he is seeking. ![]() The projects are modeled on a site Biden visited last summer, where a former coal-fired power plant in Massachusetts is shifting to offshore wind power. Biden has set a goal to cut greenhouse gas emissions in half by 2030 and achieve a net-zero emissions economy by 2050. economy to renewable energy such as wind and solar power, while turning away from coal and other fossil fuels that produce planet-warming greenhouse gas emissions. The actions are among steps the Biden administration is taking as the Democratic president moves to convert the U.S. The bonuses will “incentivize more clean energy investment in energy communities, particularly coal communities,” that have been hurt by a decade-plus decline in U.S. ![]() The White House also said it will allow developers of clean energy projects to take advantage of billions of dollars in new bonuses being offered in addition to investment and production tax credits available through the 2022 Inflation Reduction Act. As many as five projects nationwide will be funded through the 2021 infrastructure law, with at least two projects set aside for solar farms, the White House said Tuesday. ![]()
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