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Obama's Recovery Act breathed life into renewables. Now they need rescuing

Posted On: 1 Jun 2020   |   Posted By: Grist

Obama's Recovery Act breathed life into renewables. Now they need rescuing

It was the beginning of 2009, and the U.S. economy was hemorrhaging more than half a million jobs every month. The housing bubble had burst and set off the worst financial crisis since the Great Depression. In February, a few weeks after being sworn in, President Barack Obama signed the American Recovery and Reinvestment Act, an $800-billion stimulus package designed to reinvigorate the economy and save millions from losing their houses and jobs.
Hidden in the Recovery Act was something that largely escaped notice at the time - $90 billion earmarked for clean energy generation, electric vehicles, transit, and training for green jobs. By many accounts, that 10 percent chunk of the stimulus bill changed the trajectory of renewables in America. Now, 12 years later, with 36 million Americans out of work amid the economic fallout from the coronavirus, it could also serve as a model for stimulus measures to come .
Joel Jaeger, research associate at the World Resources Institute, said that countries around the...

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