One measure of success for President Joe Biden’s green energy agenda is that $6 billion of funding for new projects doesn’t even sound like that much anymore. The conditional grants announced this week for 33 projects aimed at decarbonizing industrial processes are equivalent to perhaps 1% of the headline clean-energy budgets of the Inflation Reduction Act and bipartisan Infrastructure Investment and Jobs Act. They should punch above their weight, nonetheless.

Making the manufacturing of metals, cement and chemicals green is especially tough, not least because of their high heat requirements, for which fossil fuels are perfectly suited. Doing so is essential for any net-zero plans, however, because industrial emissions are one of the big three sources of US greenhouse gas emissions; at roughly a quarter, they are almost as big as for the electric power sector. Yet, in terms of clean-energy investment, industry is a sideshow.

QOSHE - Biden’s Clean-Industry Grants Punch Above Their Weight - Liam Denning
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Biden’s Clean-Industry Grants Punch Above Their Weight

18 1
26.03.2024

One measure of success for President Joe Biden’s green energy agenda is that $6 billion of funding for new projects doesn’t even sound like that much anymore. The conditional grants announced this week for 33 projects........

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