A Preliminary Review of the American Recovery and Reinvestment Act's Clean Energy Package
Joseph E. Aldy
Harvard Kennedy School
The Recovery Act invested more than $90 billion in clean energy and leveraged more than $100 billion in private capital for investments in manufacturing, power generation, and the residential and commercial building sectors to advance the deployment of energy efficiency, wind, solar, geothermal, biomass, low-carbon fossil fuel, and other technologies. This talk will review the rationale, design, and implementation of the act's clean energy package, including a survey of policy principles for clean energy stimulus, a description of the process of crafting this package during the 2008-2009 Presidential transition, and identifying the key elements of the package. Aldy will also discuss the initial employment, economic activity, and energy outcomes associated with these energy investments and focus on the Recovery Act's support for renewable power through grants and loan guarantees.