Reuters
Published Apr 11, 2024 05:34PM ET
Updated Apr 11, 2024 05:46PM ET
By Nichola Groom
(Reuters) - The Biden administration on Thursday said the U.S. had surpassed a goal of permitting more than 25 gigawatts of clean energy projects on public lands by 2025 and finalized a plan to slash project fees for wind and solar energy on federal acreage.
WHY IT'S IMPORTANT
The announcement marks the latest effort by the administration of President Joe Biden to leverage the nation's 250 million acres of federal land to reach his goal of decarbonizing the U.S. power grid by 2035.
The permitted projects also appeared to satisfy a Congressional mandate from 2020 that the Interior Department permit at least 25 gigawatts of renewable energy by 2025.
KEY QUOTE
"We know that clean energy including transmission lines, solar energy and storage projects on public lands is helping communities across the country to be part of the climate solution while creating good paying jobs," Interior Secretary Deb Haaland said on a call with reporters.
BY THE NUMBERS * The Interior Department has permitted nearly 29 GW ofclean energy on public lands - enough to power more than 12million homes. * The Bureau of Land Management, which manages 250 millionacres of federal lands, has permitted more than 7 GW of projectssince 2021. The agency is processing permits for an additional32 GW of renewable energy. * The finalized Renewable Energy Rule will reduce fees forsolar and wind projects on federal lands by 80% whilestreamlining the application process.
WHAT'S NEXT
The administration is undertaking a separate effort to identify areas in 11 western states best suited for solar energy development. A final plan is expected by the end of the year.
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.