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Infrastructure and green energy

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Biden’s proposed infrastructure bill would have a major impact on the development of renewable energy:

President Biden’s infrastructure plan would turbocharge the country’s transition from fossil fuels, using the muscle and vast resources of the federal government to intervene in electricity markets, speed the growth of solar and wind energy, and foster technological breakthroughs in clean power.

The linchpin of Biden’s plan, which he detailed in a speech Wednesday in Pittsburgh, is the creation of a national standard requiring utilities to use a specific amount of solar, wind and other renewable energy to power American homes, businesses and factories. The amount would increase over time, cutting the nation’s use of coal, gas and oil over the next 15 years.

While 30 states and the District of Columbia already direct their utilities to include some portion of renewable energy, Biden’s strategy would amount to the most sweeping federal intervention in the electricity sector in generations.

There are a lot of important things in this legislation, but this is one of the most important. And there seems to be a strong party consensus behind it.

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