Obama’s Economic Recovery Plan – the environmental component.

excerpt from the official report, viewed at www.washingtonpost.com

Spurring a Clean Energy Economy

• Doubling renewable energy generating capacity over three years. It took 30 years for our nation to reach its current level of renewable generating capacity – the recovery and
reinvestment plan will double that level over the next three years. That increase in capacity is enough to power 6 million American homes.

• Jump-starting the transformation to a bigger, better, smarter grid. The upfront investments and reforms in modernizing our nation’s electricity grid will result in more than 3,000 miles of new or modernized transmission lines and 40 million “Smart Meters” in American homes.

• Weatherizing at least two million homes to save low-income families on average $350 per year and modernizing more than 75% of federal building space, saving taxpayers $2 billion per year in lower federal energy bills. Today, the federal government is the world’s largest consumer of energy. The recovery and reinvestment plan will make an historic investment in upgrading the federal building stock that will save taxpayer dollars and help catalyze a green building industry.

• Launching a Clean Energy Finance Initiative to leverage $100 billion in private sector clean energy investments over three years. The finance authority will provide loan guarantees and other financial support to help ease credit constraints for renewable energy investors and catalyze new private sector investment over the next three years. Sphere: Related Content