The American Council on Renewable Energy (ACORE) has said that a proposed transmission investment tax credit (ITC) in the US could spur US$15.3 billion of fresh investment in clean energy and enable an extra 42GW of wind and solar capacity to come online.
The US Department of Energy (DOE) has earmarked US$8.25 billion in loans to support grid transmission improvements as more renewables are added to the country’s power mix.
US President Joe Biden has heaped importance on clean energy research and development, arguing it to be pivotal to boosting the country’s economic recovery within a multi-trillion-dollar infrastructure stimulus package.
