Biden Administration: $3.2 Billion to Help Reduce Household Energy Bills

On Wednesday, Energy Secretary Jennifer Granholm announced that roughly $3.2 billion from the bipartisan infrastructure bill will help to lower Americans’ home energy expenses.

According to Granholm, low-income citizens spend around 30% of their income on energy. Investing in energy-efficient heating and cooling systems, improved insulation and ventilation, and new lighting and appliances would all be possible thanks to this investment.

“The $3.2 billion we are mobilizing today is about 10 times what we spend on retrofitting homes every year,” she said.

Around 38,000 homes are renovated each year as part of the government’s current initiative. With the new investment, it will now be enough to cover 450,000 homes, she claims.

Energy Department’s Weatherization Assistance Program will provide $3.2 billion to states and territories to retrofit low-income houses with energy-efficient measures.

Last November, President Joe Biden signed a $1 trillion infrastructure plan that would fund state and local governments to repair decaying infrastructure and provide millions of Americans with high-speed internet connection in order to stimulate economic growth across the country.

The cost of power generation fuels, particularly natural gas, increased massively in 2021, contributing to higher electricity costs, as shown by the EIA report.

The EIA reported that the United States accounted for nearly 17% of the world’s biggest energy consumption in 2019, but had about 4% of the world’s population.

Original source material for this article taken from here