AUSTIN, TX – New analysis from the NRDC shows that the Build Back Better program, as it stands now, has the potential to dramatically accelerate clean energy investments, economic activity and job growth. in Texas. The Senate must address the provisions as soon as possible to bring these climate and economic benefits to states across the country.
The intended benefits of the Build Back Better program in Texas include:
- 75,100 to 82,300 local jobs created in the manufacture, construction and maintenance of clean energy resources
- 21,800 to 30,200 new megawatts of clean energy, enough to power 850,000 to 1.4 million homes each year
“Implementing the Build Back Better program is a much-needed investment in our nation’s future,” said John Bowman, Managing Director of Government Affairs at NRDC. “Already, clean energy is the biggest job creator in our country’s energy sector, employing nearly three times as many workers as the fossil fuel industry. The Build Back Better program provides tax incentives to further stimulate job creation and grow the renewable energy sector, particularly in low-income communities, and support a just transition for communities that depended on income and related jobs to fossil fuels in the past.
Full factsheet and analysis available at: https://www.nrdc.org/sites/default/files/clean-electricity-bbb-tx-fs.pdf
Fund:
The Build Back Better program passed by the House contains more than $150 billion in tax incentives for clean electricity as well as more than $25 billion for loans, grants, research, purchases and other programs essential for clean energy. Tax incentives are essential to encourage the deployment of clean energy and reduce the cost of renewable energy and other clean energy sources.
The tax incentives included in the legislation are flexible and accessible to support all types of developers (small and large, for-profit and non-profit) who will usher in the fastest and most sustained construction of renewable energy in the world. . the country’s history. New bonus credits for built projects that meet strict labor standards, create well-paying jobs and promote equitable access to clean energy resources.
223,406 Texans worked in the clean energy sector in 2020, according to the Clean Jobs America 2021 E2 report. This includes 38,675 in renewable energy, 152,111 in energy efficiency and 18,265 in clean vehicles. The clean energy sector in Texas grew by 9.2% between 2018 and 2020, and the Build Back Better program could accelerate this growth in the years to come.
###
The NRDC (Natural Resources Defense Council) is an international non-profit environmental organization with over 3 million members and online activists. Since 1970, our lawyers, scientists and other environmental specialists have worked to protect the world’s natural resources, public health and the environment. The NRDC has offices in New York, Washington, DC, Los Angeles, San Francisco, Chicago, Bozeman, MT and Beijing. Visit us at www.nrdc.org and follow us on Twitter @NRDC.
Comments are closed.