The US has significantly increased its investment in clean energy, with public funding reaching new heights. On Monday, the Department of Energy (DOE) announced $6 billion in grants for industrial decarbonization, contributing to a total of $10 billion in public funding for clean industries and manufacturing in the US. This investment is expected to support over $30 billion in total investment. According to BloombergNEF, US investment in clean energy has seen a steady rise from $85 billion in 2020, to $114 billion in 2021, $141 billion in 2022, and $303 billion in 2023, more than doubling the investment compared to 2022 and marking approximately four times the investment made in 2020. Globally, investment in the energy transition reached $1.77 trillion in 2023, with significant contributions to power grids ($310B), renewable energy ($623B), and electrified transport ($634B). Additionally, the EPA has announced its selections for $20 billion in grants from the Greenhouse Gas Reduction Fund, a program under the Democrats' landmark Inflation Reduction Act, aimed at saving Americans money on utility bills, creating new jobs, and protecting communities from the climate crisis.
🚨⚡🌎 GREAT NEWS! Thanks to the Inflation Reduction Act's Greenhouse Gas Reduction Fund, @EPA is announcing $20 billion to spur clean energy projects nationwide. Our clean energy future is here! https://t.co/Gys3her3kP
BIG NEWS: @EPA has announced its selections for $20 BILLION in grants from Democrats’ landmark Greenhouse Gas Reduction Fund. This first-of-its-kind program will: 💵Save Americans money on utility bills 🧑🔧Create new good-paying jobs 🌎Protect communities from the climate crisis https://t.co/ZOs2wWAn1A
More 2024 Joe Biden vote-buying with Inflation Reduction Act money: Today @KamalaHarris and EPA administrator @EPAMichaelRegan will be in the battleground state of North Carolina handing out "$6.97 billion to support climate-friendly projects in homes, small businesses, schools… https://t.co/W2sbk71zYc
Global investment in the energy transition hit $1.77 trillion in 2023 A new high. Broken down: Power grid: $310B Renewable energy: $623B Electrified transport: $634B While transport is widely discussed, renewables and the grid contribute jointly the most. 📊 @BloombergNEF https://t.co/q3noYeBrom
Good morning with good news: US investment in clean energy more than doubled in 2023, compared to 2022. 2020: $85 billion 2021: $114 billion 2022: $141 billion 2023: $303 billion ~4x more investment than in 2020!! Source @BloombergNEF Credit @AkshatRathi @TimMLatimer
US investment in clean energy 2020: $85 billion 2021: $114 billion 2022: $141 billion 2023: $303 billion Source: @BloombergNEF
This comes on top of $6 billion in DOE grants for industrial decarbonization on Monday, making it $10 billion of public funding in clean industries and manufacturing in the US, supporting over $30 billion in total investment. https://t.co/pDwyF1Regv