Legislation expected to pass the US House on Friday will provide $375 billion in climate incentives designed to make the already plummeting costs of renewable energy substantially lower.
US climate bill includes major spending to spur green energy uptake
After decades of inaction in the face of escalating natural disasters and sustained global warming, US Congress hopes to make clean energy so cheap in all aspects of life that it’s nearly irresistible.
The House of Representatives is poised to pass a transformative bill on Friday that would provide the most spending to fight climate change by any one nation ever in a single push.
Friday’s anticipated action comes 34 years after a top scientist grabbed headlines warning Congress about the dangers of global warming. In the decades since, there have been 308 weather disasters that have each cost the nation at least $1 billion, the record for the hottest year has been broken 10 times and wildfires have burned an area larger than Texas.
The crux of the long-delayed bill, singularly pushed by Democrats in a closely divided Congress, is to use incentives to spur investors to accelerate the expansion of clean energy such as wind and solar power, speeding the transition away from the oil, coal and gas that largely cause climate change.