Biden's budget proposes USD 36bn for tackling climate change

US president Joe Biden on Friday released his proposed budget for fiscal year 2022 calling for over USD 36 billion (EUR 29.5bn) to be committed to fighting climate change, an increase of over USD 14 billion compared to 2021.

The funding would include more than USD 10 billion, a rise of almost 30% from 2021, for clean energy innovation across non-defense agencies.

The budget also proposes USD 4 billion for climate change research and USD 7 billion for the National Oceanic and Atmospheric Administration (NOAA).

In support of an objective of a carbon-pollution free power sector by 2035, the budget will invest USD 2 billion to “put welders, electricians, and other skilled laborers to work building clean energy projects.”

The budget further supports USD 6.5 billion in lending to back clean energy, energy storage and transmission projects in rural communities.

The American Clean Power Association (ACP) applauded the proposal.

“These funding levels for wind, solar, and energy storage research and development will be crucial in keeping our country on the cutting edge of clean energy technology,” it said and added that dedicated support for the Bureau of Ocean Energy Management (BOEM), NOAA, and the Maritime Administration’s Port Infrastructure Development Program will help accelerate the American offshore wind industry.

“Today’s budget request from the Biden administration provides a detailed roadmap of the programs and federal investments necessary to support the renewable energy industry’s drive to decarbonize the power sector by 2035," said the American Council on Renewable Energy (ACORE).

The budget proposal follows the release of the US president’s fiscal year 2022 discretionary budget request on April 9.

(USD 1.0 = EUR 0.820)

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