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America is investing more than $500 billion in climate

Over the next decade, the US government will spend $500 billion on climate technology and renewable energy. This is the result of three new laws recently enacted by the US government. This is evident from an analysis by the Rocky Mountain Institute (RMI), which specializes in research on sustainability and energy.

The assessments are based on new laws introduced recently to fight inflation Manufacturing of semiconductors to do It also examined the impact of the massive infrastructure investment announced by the US government last year.

Integrated Sustainable Industrial Policy

These laws should, among other things, fund climate-related research and pilot studies and stimulate sustainable manufacturing. “Together, these laws constitute a coherent sustainable industrial policy”, brands researchers Lachlan Carey and June Shepherd op.

Researchers estimate that the laws could lead to $514 billion in total investment in sustainable projects over the next decade. Additionally, $362 billion will come from efforts to keep inflation under control.

On the other hand, $98 billion of the budget will be linked to infrastructure investments, while $54 billion will go to initiatives. Manufacture of computer chips to induce.

The researchers point out that the US Congress should take further legislative efforts to release part of the planned funding. The analysis does not take into account initiatives in the agricultural sector.

Gear

Carey and Shepherd further assert that annual US federal government spending on climate protection and renewable energy over the next period will be approximately 15 times higher than the budgets available in the 1990s and early 2000s.

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“But even with respect to the past, we can talk about a three-fold increase,” they argue.

According to US government estimates, renewables will represent an increasing portion of energy production. In particular, the development of wind and solar power is mentioned.

However, Gary and Shepard warn against it Investments in climate should be raised further. “It’s a long process, but it doesn’t have time,” the researchers emphasize. “The development of wind and solar power has taken about forty years. We have only ten more years to reach the expected goals.

(fjc)