Vitality Information: Influence of the Investing in America Agenda on New Hampshire

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U.S. Secretary of Vitality Jennifer Granholm visits New Hampshire

On Monday, January 8, 2024, U.S. Secretary of Vitality Jennifer M. Granholm will journey to Nashua and Bedford, New Hampshire, and be a part of the state’s whole congressional delegation to focus on how Bidenomics helps to decrease prices for American households, advance cutting-edge clear power applied sciences, and practice the following era of unpolluted power staff.

Strengthening New Hampshire’s Financial system

ENERGY JOBS

• In 2022, there have been already 30,200 New Hampshire staff employed within the power sector.
• Statewide, over 50% of the electrical energy era workforce was in wind, photo voltaic, and hydroelectric, and virtually 11,300 staff have been employed in power effectivity.
• The Inflation Discount Act is increasing these alternatives, bringing an estimated $490 million of funding in large-scale clear energy era and storage to New Hampshire between now and 2030.

SMALL BUSINESSES

• New Hampshire is dwelling to $490 million small companies, representing 98.9% of all companies and using 49% of all staff within the state, and the Inflation Discount Act will assist them get monetary savings. Business constructing homeowners can obtain a tax credit score as much as $5 per sq. foot to assist power effectivity enhancements that ship decrease utility payments. Different packages that can profit small companies embrace tax credit overlaying 30% of the prices of putting in low-cost solar energy and of buying clear vehicles and vans for industrial fleets.

CLEAN ENERGY INVESTMENT

• Presently, New Hampshire has 220 MW of photo voltaic, wind, and storage capability, which powers the equal of 25,000 New Hampshire houses. That is along with 1.2 GW of nuclear capability.
• The Inflation Discount Act tax credit that encourage funding in wind and photo voltaic will assist scale back power prices, as the prices of photo voltaic and wind energy are projected to drop by 23% and 35%, respectively, over the following 30 years in New Hampshire.
• Because the begin of the Biden Administration, the U.S. Division of Vitality has tracked greater than $150 billion in new personal sector battery and electrical car provide chain funding bulletins, and greater than $5 billion in new personal sector photo voltaic manufacturing funding bulletins, together with two new battery and electrical car services and a brand new photo voltaic manufacturing facility in New Hampshire.

CLEAN TRANSPORTATION

• New Hampshire has over 10,900 EVs presently registered within the state.
• Drivers switching to an electrical pickup truck might save over $1700 per 12 months in fueling and upkeep prices in comparison with a gasoline-powered truck. Drivers of smaller automobiles might save over $1200 per 12 months by switching to electrical. The Inflation Discount Act will make it simpler and cheaper to buy an electrical car, with upfront reductions for eligible consumers of as much as $7,500 for brand new eligible EVs and as much as $4,000 for used EVs, serving to many People skip the gasoline pump and save on gasoline prices.
• New Hampshire has over 480 different fueling ports already. The state will even obtain over $3.7 million in federal funding to assist construct out extra EV charging stations.

Investing In New Hampshire

• Because of funding from President Biden’s Investing in America Agenda, the U.S. Division of Vitality has made accessible greater than $103 million prior to now 12 months to New Hampshire’s state and native governments to spend money on power effectivity and grid resilience. This consists of funding to assist low-income households entry extra effectivity home equipment, and over $6 million to assist strengthen grid resilience.

Saving New Hampshirites Cash on Residence Vitality Payments

• The U.S. Division of Vitality’s Weatherization Help Program and State Vitality Program have invested virtually $20 million in New Hampshire since 2015, resulting in a whole bunch of jobs and over 1,800 houses with lowered power prices and improved well being and security.
• New Hampshire will obtain over $69 million to implement Residence Vitality Rebate packages within the state. Low-income households in New Hampshire might save a median of 40% on their dwelling power payments once they enhance power effectivity by way of funding like these packages.
• The Inflation Discount Act additionally consists of grants to assist state and native governments undertake the newest constructing power codes, which might save the common new house owner in New Hampshire 15.1% on their utility payments. That quantities to $537 per 12 months.

Prioritizing New Hampshire’s Underserved and Rural Communities

• The Biden Administration has dedicated to advancing fairness for all communities, together with by way of the Justice40 Initiative, which goals to make sure Federal companies ship not less than 40% of the general advantages of local weather, clear power, inexpensive and sustainable housing, clear water, and different investments to deprived communities. The U.S. Division of Vitality has greater than 140 packages lined by this initiative.
• The New Hampshire Public Utilities Fee took half in a multistate initiative to develop photo voltaic in a approach that advantages the grid, with assist from DOE’s Photo voltaic Vitality Innovation Community.
• The NH Sustainable Vitality Affiliation, in Whitefield, NH, was chosen for the primary spherical of the Energizing Rural Communities Prize for his or her proposal to assist rural communities within the design and implementation of battery storage methods for municipal buildings.

For present DOE funding alternatives, go to: www.power.gov/infrastructure

Information launch from U.S. DOE.