Biden-Harris Administration Announces $3.5 Billion for Largest Ever Investment in America’s Electric Grid, Deploying More Clean Energy, Lowering Costs, and Creating Union Jobs
Biden-Harris Administration Announces $3.5 Billion for Largest Ever Investment in America’s Electric Grid, Deploying More Clean Energy, Lowering Costs, and Creating Union Jobs
Investing in America Agenda Funds Projects Across 44 States to Strengthen the Power Grid Against Extreme Weather, and Deliver Cheaper, Cleaner, Reliable Energy to Communities Across the Country; Supports Union Jobs in the Utility Sector
Our grid desperately needs it, but I have to wonder how much of this is ultimately tax payers paying for the stuff power companies should have been doing for decades. If this is another example of privatizing profits and socializing losses.
Not only that, the power companies are double dipping. Look at your bill sometime, my bill specifically has a rider for grid enhancements. It's buried in there, but I bet yours does too.
The Public Utilities Commission of Ohio in Case number 23-169-EL-RDR on August 9, 2023 approved an adjustment to Ohio Power Company's Enhanced Service Reliability Rider rate effective with this bill. A residential customer using 1,000 kWh of electricity will see an increase of $0.28 per month.
but I have to wonder how much of this is ultimately tax payers paying for the stuff power companies should have been doing for decades.
The answer is $3.5 billion.
Have a family member in renewable installation and if the local power company around me is any indication, they're gonna take the money, then charge the consumers to do what the money was supposed to be for.
Ah yes, the successor to the let’s get everyone on the broadband wagon with government assistance
You forgot the crucial bit: then not do any of it and pocket the money from both.
Should have been doing? Why? By the way its actually profitable when your power goes out. Only the state can hold them accountable, aaaaand finally the state is doing what they should have been doing for decades. Why? By the way its actually politically advantageous to kick the can down the road rather than give voters what they asked for. Biden just has nothing left to lose except his legacy, and I suppose the next election. But people will remember this dude.
They could have but only if you were willing to have higher bills. These companies are not showing profits and real higher than average. Ultimately we need to pay for it.
BTW, using tax dollars is now free money either. That comes from somewhere so either our tax rates increase or some services are cut.
Where do you think the money comes from?
This is a step in the right direction.
China is investing 13.7 trillion in their power sector to achieve net-zero emissions. 3.5 billion is rookie numbers if we want to keep up and remain competitive. At least it's a start.
Impossible. You think a trillion dollar military industrial complex funds itself?
China says they're going to do that. Meanwhile, they're still going apeshit for coal.
China's state grid corporation said investment in power may reach 13.7 trillion dollars (100 trillion yuan) by 2060. This number is not a real thing currently happening, and even if it was it'd be spread out over almost four entire decades. It's also just investment in power generally, not in reaching net zero.
I'm fine with this provided Texas doesn't get a dime.
Read the article and get your questions answered.
Good decision from the administration here. Glad union jobs will be created.
I wonder how much of this will go towards Texas? And would our governor do anything but pocket the money?
Of course. At least part of it will be spent on frivolous lawsuits and "team training" in the Bahamas.
Jfc I hate my state
My hot take is all of my money secretly goes to Texas. Texas is where all tax money goes to die.
3.5 billion ... for the US?
Are they going to pull like a single wire to the entire country or something?
Just like read the article it says what it'll do and that it's part of more spending bills to come.
And how much are we giving Ukraine and Israel this week?
You understand the concept that more than one thing can happen at a time, yes?
Not to mention these projects are just a small part of a $550 billion dollar infrastructure investment bill.
But for the poster above you, the idea of that law is instead of passing smaller bills regularly, this will make sure there's enough funds available until the end of the Ukraine war so it doesn't get used as a bargaining chip by Republicans in domestic squabbles, and so the Russians know they can't win by just waiting for America to get bored and stop supporting Ukraine. Attaching a small amount of Israel support and other things to it are a way to help ensure it gets bipartisan support to pass (since even though republicans no longer really want to vote to help Ukraine, they do want to be seen to help Israel, and republican support is needed to get it through the house of representatives which they control).
I believe last I saw it was $100 billion.
A minuscule fraction of what we spend on our own military. Strange that bothers you less than this war we don't have to fight but still benefits us immensely.
Different color of money.
Like 1% of our military budget and in return our military industry is putting highly skilled engineers back to work replacing our stockpiles and supply the countries that feel a need to up their defensive security capabilities in the wake of a return of war in europe.