U.S. ENERGY INVESTMENT PROMOTION

President Biden recently introduced a massive infrastructure bill designed to reshape the U.S. economy while addressing infrastructure reform. Biden’s stated goal is to achieve 100 percent carbon-free power by 2035.

The proposal also includes $100 billion in funding to upgrade and strengthen the country’s electric grid system, which has been weakened by worsening climate disasters. The proposed legislation would provide new tax credits to support the construction of high-voltage transmission lines, a major hurdle in the expansion of renewable energy. Additionally, it would include a 10-year extension of wind, solar, and battery tax credits, which are set to expire in several years.