How the stimulus package will affect the power sector
The package contains more than $42 billion in energy-related investments from tax credits to homeowners to loan guarantees for renewable energy projects and direct government grants for makers of wind turbines and next-generation batteries.
There's a 30 percent tax credit of up to $1,500 for the purchase of a highly efficient residential air conditioners, heat pumps or furnaces. The credit also can be used by homeowners to replace leaky windows or put more insulation into the attic. About $300 million would go for rebates to get people to buy efficient appliances.
The package includes $20 billion aimed at "green" jobs to make wind turbines, solar panels and improve energy efficiency in schools and federal buildings. It includes $6 billion in loan guarantees for renewable energy projects as well as tax breaks or direct grants covering 30 percent of wind and solar energy investments. Another $5 billion is marked to help low-income homeowners make energy improvements.
About $11 billion goes to modernize and expand the nation's electric power grid and $2 billion to spur research into batteries for future electric cars.
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BERLIN - Germany's electricity generation in January presented a fascinating snapshot of its energy transition journey. As the country strives to move away from fossil fuels, it grapples with the realities of replacing nuclear power and meeting fluctuating energy demands.
Gas Takes the Lead:
Gas-fired power plants saw their highest output in two years, generating 8.74 terawatt hours (TWh). This 13% increase compared to January 2023 compensated for the closure of nuclear reactors and colder weather driving up heating needs. This reliance on gas, however, pushed its share in the electricity mix to 18.6%, highlighting Germany's continued dependence on fossil fuels.
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