This article was originally published 19 February, 2009
On February 17, 2009, President Obama signed into law H.R. 1, the "American Recovery and Reinvestment Act of 2009" (the Act). The Act provides $787 billion in new spending and tax incentives which are intended to provide economic stimulus for the American economy, and contains specific provisions designed to address energy requirements and climate change.
The Act authorizes approximately $45 billion of new incremental spending for energy and energy-related investments with particular emphasis on "conservation," "green energy" initiatives and technology and electricity production, distribution and transmission systems. This $45 billion is, in broad terms, allocated as follows:
- $16.8 billion for "Energy Efficiency and Renewable Energy"
- $4.5 billion for "Electricity Delivery and Energy Reliability"
- $3.4 billion for "Fossil Energy Research and Development"
- $2 billion for "Science and Advanced Research"
- $6 billion for "Innovative Technology Loan Guarantees"
- $5.61 billion for Environmental Cleanup programs
- $6.5 billion to be divided equally between the Bonneville Power Administration and the Western Area Power Administration for transmission facilities
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