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Gramlich said his firm has calculated that nearly two dozen large-scale interregional projects around the country, representing approximately 20 GW of transmission capacity, have stalled due to a lack of financing. "There's an opportunity to go really big and look at the needs of a $100 billion-plus macro grid but there's also an opportunity to focus on near-term deployment, and that's what the transmission tax credit would do," Gramlich said in an interview. Martin Heinrich, D-N.M., to establish a tax credit for the installation of "regionally significant" transmission lines may be part of the legislative package. In terms of related legislation, Rob Gramlich, executive director of Americans for a Clean Energy Grid, said a bill introduced last week by Sen. The new office would also support "creative financing tools to spur additional high priority, high-voltage transmission lines." Department of Energy to leverage existing rights-of-way for transmission lines along roads and railways. To that end, the plan would establish a new Grid Deployment Authority within the U.S. The proposal would "put hundreds of thousands of people to work laying thousands of miles of transmission lines," according to a White House fact sheet. will need to double or even triple its electric transmission capacity to successfully decarbonize its economy by midcentury. The plan proposes $100 billion in spending on upgrading and building out the nation's aging and regionally siloed electric transmission system. But finding ways to fund the plan and gain sufficient support in Congress could be challenging with Democrats holding only thin majorities in both chambers.Īlong with repairing other infrastructure, the plan calls for the modernization of the country's aging electric grid, which Biden wants to produce 100% carbon-free electricity by 2035. The White House will need to work with Congress to draft comprehensive legislation to realize President Joe Biden's infrastructure vision. is still struggling economically from the coronavirus and ranks 13th in the quality of its infrastructure despite being the wealthiest country in the world, the White House said "it has never been more important for us to invest in strengthening our infrastructure and competitiveness, and in creating the good-paying, union jobs of the future." infrastructure more resilient to the impacts of climate change. The 10-year, $2 trillion American Jobs Plan also seeks to upgrade roads, bridges and water systems and help make U.S. The White House on March 31 released the outline of a jobs and infrastructure plan that calls on Congress to invest $100 billion to "reenergize America's power infrastructure." President Joe Biden released details of a $2 trillion infrastructure plan on March 31 that includes efforts to modernize and cut emissions from the power sector.
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