Arra launches Obama's green revolution
What provisions does the American Recovery and Reinvestment Act make for the US energy sector?
A TWO-pronged approach to stimulate economic activity in the US energy industry was signed into law by President Barack Obama on 17 February. The first prong of the American Recovery and Reinvestment Act of 2009 (Arra) is the use of grants and loan guarantees, administered by the Department of Energy (DOE), to support investment. The second is the use of the tax code to provide economic motivation to the private sector to make near-term investments in renewable energy. The appropriations for DOE-administered energy programmes reflect two objectives of the new administration: stimulating the US economy by spending federal funds to build new infrastructure; and increasing the supply of renewab
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