The Impact of the Investing in America Agenda on Nevada’s Energy Sector: Key Facts

Reimagining Nevada’s <a href="">clean energy</a> Future

Reimagining Nevada’s clean energy Future

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U.S. Secretary of Energy Jennifer Granholm visits Nevada

From January 30, 2024 through January 31, 2024, Secretary Granholm will embark on a journey to Nevada, where she will explore the Allegiant Stadium. This stadium is an extraordinary example of sustainability, being the first National Football League stadium to operate solely on renewable energy.

During her visit, Secretary Granholm will also meet with members of the Moapa Band of Paiutes. They will discuss their pioneering efforts in solar power development and deployment, highlighting their leadership in the industry.

Furthermore, Secretary Granholm will attend the 2024 National Automobile Dealers Association Show. At this event, she will emphasize the vital role of local dealers in promoting electric vehicle adoption and realizing President Biden’s vision of a clean transportation future.

To conclude her visit, Secretary Granholm will engage in a roundtable discussion with local union representatives. U.S. Senator Jacky Rosen (NV) and U.S. Representative Dina Titus (NV-1) will join her in this conversation, focusing on strengthening Nevada’s economy and supporting the interests of the working class.

Strengthening Nevada’s Economy

Energy Jobs

In 2022, Nevada employed an impressive 59,200 workers in the energy sector. The majority of the electric power generation workforce, accounting for 74%, was dedicated to wind, solar, and hydroelectric projects. Additionally, over 12,000 workers were employed in energy efficiency initiatives.

With the implementation of the Inflation Reduction Act, Nevada can anticipate an estimated $2.7 billion investment in large-scale clean power generation and storage by 2030, further expanding employment opportunities in the energy sector.

Small Businesses

Nevada takes pride in its thriving small business community, with over 312,000 small businesses representing 99.2% of all businesses in the state. These businesses employ 43% of Nevada’s workforce. The Inflation Reduction Act aims to support these small businesses by providing tax credits of up to $5 per square foot for energy efficiency improvements in commercial buildings. Additionally, tax credits covering 30% of the costs for installing low-cost solar power and purchasing clean trucks and vans will further benefit small businesses and enhance their sustainability efforts.

clean energy Investment

With an existing capacity of over 5.5 GW of solar, wind, and storage, Nevada is already a leader in clean energy. Furthermore, the state boasts 3.4 GW of nuclear capacity. Nevada has plans to add nearly 6 GW of clean energy capacity, which will more than double its current clean energy availability, powering an additional 810,000 homes.

The Inflation Reduction Act incentivizes clean energy investment by offering tax credits, contributing to a projected 22% decrease in solar power costs and a 35% decrease in wind power costs over the next 30 years in Nevada. The Biden Administration’s commitment to clean energy is evident, with the U.S. Department of Energy tracking over $150 billion in new battery and electric vehicle supply chain investment announcements, including $10.5 billion allocated to Nevada. Additionally, over $14 billion has been tracked for new solar manufacturing investment, creating opportunities for job growth in the state.

Clean Transportation

Nevada already has 36,900 registered electric vehicles (EVs) on its roads. EV drivers can save over $1,700 per year in fueling and maintenance costs compared to gasoline-powered vehicles. The Inflation Reduction Act aims to make EVs more accessible and affordable by providing upfront discounts of up to $7,500 for new EVs and up to $4,000 for used EVs. This encourages more Americans to transition to electric transportation, reducing reliance on fossil fuels and lowering fuel costs.

Moreover, Nevada is well-equipped with over 1,600 alternative fueling ports. The state will receive over $8 million in federal funding in 2024 to expand its electric vehicle charging infrastructure, making EV charging more accessible and convenient for drivers.

Investing In Nevada

Thanks to funding from President Biden’s Investing in America Agenda, the U.S. Department of Energy has allocated over $141 million in the past year to support energy efficiency and grid resilience projects in Nevada. Some initiatives include assisting low-income households in accessing more efficient appliances and strengthening grid resilience with over $10 million in funding.

Furthermore, the Department of Energy has granted $57 million to Advanced Battery Technology Company to establish a state-of-the-art battery manufacturing facility in Nevada. Lilac Solutions has also received $50 million to demonstrate a new lithium production technology. Additionally, American Battery Technology Company has received almost $10 million to enhance battery recycling facilities, making the recycling process more efficient and effective.

Saving Nevadans Money on Home Energy Bills

The U.S. Department of Energy’s Weatherization Assistance Program and State Energy Program have invested over $10 million in Nevada since 2015. These investments have led to the creation of 330 jobs and have improved energy efficiency in over 700 homes, resulting in reduced energy costs and improved health and safety.

Upgrading appliances and improving home energy efficiency in Nevada could result in saving a total of 1,900 GWh of energy, equivalent to powering an additional 74,000 homes. To further support energy savings for low-income households, Nevada will receive over $96 million to implement a Home Energy Rebate program. Through this program, low-income households can save an average of 28% on their home energy bills by upgrading appliances and improving energy efficiency.

The Inflation Reduction Act also includes grants to assist state and local governments in adopting the latest building energy codes. This would lead to a 9.7% reduction in utility bills for the average new homeowner in Nevada, translating to savings of $181 per year.

Prioritizing Nevada’s Rural and Underserved Communities

The Biden Administration is committed to advancing equity for all communities, including rural and underserved areas. Through the Justice40 Initiative, federal agencies aim to ensure that at least 40% of the overall benefits from climate, clean energy, and affordable housing investments are delivered to disadvantaged communities.

Nevada clean energy Fund, Warm Springs Consulting, and Washoe County have been recognized for their proposals to support rural communities in accessing more reliable and affordable energy. These initiatives have been awarded the first round of the Energizing Rural Communities Prize, highlighting their commitment to equal opportunities in the clean energy sector.

Nevada’s Rural Partners Network, consisting of five Community Networks, focuses on projects that benefit local communities and unlock the region’s full clean energy potential. Supported by the USDA, DOE, and other federal agencies, these networks play a crucial role in advancing clean energy initiatives in rural areas.

For current Department of Energy funding opportunities, please visit:

Courtesy of U.S. Department of Energy.

Read More of this Story at – 2024-02-03 05:34:24

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