Vitality Information: Impression of the Investing in America Agenda on Nevada

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U.S. Secretary of Vitality Jennifer Granholm visits Nevada

• On January 30, 2024 by way of January 31, 2024, Secretary Granholm will journey to Nevada to tour the Allegiant Stadium — described as the primary Nationwide Soccer League stadium to be powered by 100% renewable vitality. Secretary Granholm may also meet with members of the Moapa Band of Paiutes to debate their management within the growth and deployment of solar energy.
• The Secretary will attend the 2024 Nationwide Vehicle Sellers Affiliation Present, the place she is going to talk about the essential function of native sellers in increasing electrical automobile adoption and attaining President Biden’s imaginative and prescient of a clear transportation future. To shut out the go to to the Silver State the Secretary will then be a part of U.S. Senator Jacky Rosen (NV) and U.S. Consultant Dina Titus (NV-1) for a roundtable dialogue with native union representatives.

Strengthening Nevada’s Economic system

Vitality Jobs

• In 2022, there have been already 59,200 Nevada staff employed within the vitality sector. Statewide, 74% of the electrical energy era workforce was in wind, photo voltaic, and hydroelectric, and over 12,000 staff have been employed in vitality effectivity.
• The Inflation Discount Act is increasing these alternatives, bringing an estimated $2.7 billion of funding in large-scale clear energy era and storage to Nevada between now and 2030.

Small Companies

• Nevada is dwelling to over 312,000 small companies, representing 99.2% of all companies and using 43% of all staff within the state, and the Inflation Discount Act will assist them get monetary savings. Industrial constructing homeowners can obtain a tax credit score as much as $5 per sq. foot to help vitality effectivity enhancements that ship decrease utility payments. Different applications that may profit small companies embody tax credit masking 30% of the prices of putting in low-cost solar energy and of buying clear vans and vans for industrial fleets.

Clear Vitality Funding

• At the moment, Nevada has over 5.5 GW of photo voltaic, wind, and storage capability. That is along with 3.4 GW of nuclear capability. There’s nearly 6 GW of further deliberate clear vitality capability within the works in Nevada, which is able to greater than double the quantity of unpolluted vitality out there on the state’s grid and energy the equal of greater than 810,000 further properties.
• The Inflation Discount Act tax credit that encourage funding in wind and photo voltaic will assist scale back vitality prices, as the prices of photo voltaic and wind energy are projected to drop by 22% and 35%, respectively, over the following 30 years in Nevada.
• Because the begin of the Biden Administration, the U.S. Division of Vitality (DOE) has tracked greater than $150 billion in new battery and electrical automobile provide chain funding bulletins, together with $10.5 billion in Nevada.
• In the identical interval, DOE has tracked greater than $14 billion in new photo voltaic manufacturing funding bulletins, together with a facility in Nevada that’s projected to create 200 jobs.

Clear Transportation

• Nevada already has 36,900 EVs at the moment 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. The Inflation Discount Act will make it simpler and cheaper to buy an electrical automobile, with upfront reductions as much as $7,500 for brand new EVs and as much as $4,000 for used EVs, serving to many People skip the fuel pump and save on gasoline prices.
• Nevada has over 1,600 various fueling ports already. The state may also obtain over $8 million in federal funding in 2024 to assist construct out extra EV charging stations.

Investing In Nevada

• Because of funding from President Biden’s Investing in America Agenda, the U.S. Division of Vitality has made out there greater than $141 million prior to now 12 months to Nevada’s state and native governments to put money into vitality effectivity and grid resilience. This consists of funding to assist low-income households entry extra effectivity home equipment, and over $10 million to assist strengthen grid resilience.
• Superior Battery Know-how Firm has obtained $57 million from DOE to help a brand new state-of-the-art battery manufacturing facility in Nevada. Lilac Options additionally obtained $50 million to show a brand new lithium manufacturing know-how.
• American Battery Know-how Firm additionally obtained nearly $10 million from DOE to check a number of new processing applied sciences to their current battery recycling amenities in Nevada to make recycling batteries extra environment friendly and efficient.

Saving Nevadans Cash on Residence Vitality Payments

• The U.S. Division of Vitality’s Weatherization Help Program and State Vitality Program have invested greater than $10 million in Nevada since 2015, resulting in 330 jobs and over 700 properties with diminished vitality prices and improved well being and security.
• Upgrading home equipment and bettering dwelling vitality effectivity might save a complete of 1,900 GWh of vitality in Nevada, sufficient to energy the equal of 74,000 further Nevada properties.
• Nevada will obtain over $96 million to implement a Residence Vitality Rebate program within the state. Low-income households within the state might save a median of 28% on their dwelling vitality payments once they improve their home equipment and enhance vitality effectivity by way of this program.
• The Inflation Discount Act additionally consists of grants to assist state and native governments undertake the newest constructing vitality codes, which might save the common new home-owner in Nevada 9.7% on their utility payments. That quantities to $181 per 12 months.

Prioritizing Nevada’s Rural and Underserved 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 businesses ship at the least 40% of the general advantages of local weather, clear vitality, reasonably priced and sustainable housing, clear water, and different investments to deprived communities. The U.S. Division of Vitality (DOE) has greater than 140 applications lined by this initiative.
• Nevada Clear Vitality Fund, Heat Springs Consulting, and Washoe County have been all chosen for the primary spherical of the Energizing Rural Communities Prize for his or her proposals to help rural communities in accessing extra dependable and reasonably priced vitality.
• Nevada has 5 Neighborhood Networks a part of the Rural Companions Community. Supported by USDA, DOE, and different federal businesses, the community focuses on initiatives prioritized by native communities that unlock the complete potential of the area.

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

Courtesy of U.S. Division of Vitality.