US Energy Secretary Jennifer M. Granholm emphasized the pressing need for action, stating, “It is undeniable that electricity demand is expected to grow over the next decade as the manufacturing sector experiences explosive growth and artificial intelligence requires more and more energy.”
Following years of stagnant growth, electricity demand is rising, propelled by expanding industries such as data centers and transportation electrification. President Biden’s investing in America agenda aims to seize this opportunity, ushering in new economic prospects while confronting the climate crisis head-on.
The report outlines a multifaceted approach to meet the evolving energy needs:
President Biden’s agenda provides a robust framework for action, offering incentives and funding mechanisms to accelerate the adoption of these solutions. Tax credits incentivize investment in crucial energy technologies like energy storage, nuclear, and hydropower, promoting innovation and sustainability. Additionally, DOE programs such as the Grid Resilience and Innovation Partnership and the Energy Infrastructure Reinvestment loan program provide essential support to modernize and strengthen the nation's transmission system, enhancing its resilience.
Consumer incentives play a pivotal role in accelerating the deployment of efficiency technologies and distributed energy resources. By offering incentives directly to consumers, the adoption of these technologies is stimulated, contributing to a more sustainable energy landscape. Furthermore, technical assistance programs address the diverse needs of states, tribes, territories, and industries, smoothing the path for widespread adoption of renewables and new technologies, ultimately fostering a more resilient and efficient energy ecosystem.
