Federal Funding for RDD in Energy
President Biden outlined his plans for federal spending, with an emphasis placed on domestic programs. Amongst the USD 1.52 trillion proposed spending, USD 4.3 billion will go towards increasing the DOE's budget (a 10.2% increase compared to the previous year). This includes:
- USD 1.7 billion for R&D in low-carbon technologies such as nuclear power plants and hydrogen fuels;
- USD 1.9 billion for a new clean-energy initiative to help make homes more energy-efficient, and speed up permitting of transmission lines that can carry wind and solar power across the country.
This measures are accompanied by additional spending in President Biden's infrastructure plan. Congress must still approve the budget.
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