Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

U.S. energy secretary says state incentives could boost clean energy standard

Published 04/13/2021, 12:37 PM
Updated 04/13/2021, 01:25 PM
© Reuters. U.S. Secretary of Energy Jennifer Granholm holds press briefing at the White House in Washington

WASHINGTON (Reuters) -U.S. Energy Secretary Jennifer Granholm said on Tuesday that chances of getting through Congress a mechanism called a clean energy standard, which aims to help boost low-carbon power technology, could improve if it includes incentives for U.S. states.

An energy efficiency and clean energy standard is included in President Joe Biden's $2.3 trillion infrastructure plan, but it is uncertain how much of the blueprint will make it through Congress, where Biden's fellow Democrats hold only slim majorities.

The standard, which sets deadlines for utilities to use power from clean energy sources, is a key part of Biden's policy to help curb climate change by decarbonizing the power sector by 2035. Nuclear energy and carbon capture and storage technologies would be part of the policy, Gina McCarthy, White House national climate adviser, told reporters this month.

That could help preserve at-risk power plants, perhaps including some existing coal-powered facilities, which could help win votes.

Granholm said it remains to be seen whether the standard could be passed through the Senate by regular order, meaning 60 votes in the 100-member chamber, or through a process called reconciliation, for which it would need only a simple majority.

"So much of it depends on how it is crafted," Granholm told the BNEF conference. There is "a way to consider crafting something that provides incentives to the states to be able to make that happen," Granholm said.

She did not provide further details but said the incentives could be similar to "Race to the Top" program in which states had access to competitive grants from the U.S. Education Department to help them meet high school education standards.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Several bills have a clean energy standard, including one sponsored by Representative Frank Pallone and two other Democrats in the U.S. House.

Biden's proposed budget last week provided money for the Energy Department to oversee a clean energy standard.

Latest comments

She doesnt have a great track record with subs to green companies
Under this administration we will be dominating the rest of the world in green energy tech.
thanks for the propaganda Joel
Granholm..what the ********does she know about energy...
So clean energy is part of the infrastructure bill.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.