“He said that Georgia Power would get $22.5 billion and Alabama Power would get $4.1 billion.
“This is the largest investment by the U.S. government ever in a non-crisis time,” Beard said.”
Well that’s simply not true.
“The Inflation Reduction Act creates a new program to finance three types of energy infrastructure projects.
One type is projects that retool, repower, repurpose or replace existing energy infrastructure that has ceased operations. Another is efforts to enable operating energy infrastructure to avoid, reduce, use or sequester air pollutants or greenhouse gas emissions. The third type is projects to remediate environmental damage associated with energy infrastructure.
**The Act authorizes up to $250 billion in loans for such projects, supported by an appropriation of $5 billion to cover the related credit subsidy costs.**”
And that was just one component of the IRA. I wonder if anything ever happened that compromised the IRA’s loan programs for energy infrastructure?
“Most notably, **the [OBBB] law repeals the Inflation Reduction Act’s (IRA) loan authority for LPO programs** and replaces the Section 1706 Energy Infrastructure Reinvestment (EIR) program with a new Energy Dominance Financing authority. Additionally, **the OBBB provides $1 billion in new funding for the program, which is estimated to provide up to $200 billion in lending authority.**”
So they slashed part of the loan appropriation and added $1bn onto the already existing $200+bn.
sparx_fast on
Are they going to build coal plants in Georgia and Alabama now?
Double_Swordfish_668 on
So basically Trump is taking tax dollars from the other 48 states to prop up electricity customers in Georgia and Alabama? Where is the $26B for Washington and Oregon electricity customers?
mrblack1998 on
Polls must be really bad if they think they need to bribe Georgia and alabama
4 Comments
“He said that Georgia Power would get $22.5 billion and Alabama Power would get $4.1 billion.
“This is the largest investment by the U.S. government ever in a non-crisis time,” Beard said.”
Well that’s simply not true.
“The Inflation Reduction Act creates a new program to finance three types of energy infrastructure projects.
One type is projects that retool, repower, repurpose or replace existing energy infrastructure that has ceased operations. Another is efforts to enable operating energy infrastructure to avoid, reduce, use or sequester air pollutants or greenhouse gas emissions. The third type is projects to remediate environmental damage associated with energy infrastructure.
**The Act authorizes up to $250 billion in loans for such projects, supported by an appropriation of $5 billion to cover the related credit subsidy costs.**”
And that was just one component of the IRA. I wonder if anything ever happened that compromised the IRA’s loan programs for energy infrastructure?
“Most notably, **the [OBBB] law repeals the Inflation Reduction Act’s (IRA) loan authority for LPO programs** and replaces the Section 1706 Energy Infrastructure Reinvestment (EIR) program with a new Energy Dominance Financing authority. Additionally, **the OBBB provides $1 billion in new funding for the program, which is estimated to provide up to $200 billion in lending authority.**”
So they slashed part of the loan appropriation and added $1bn onto the already existing $200+bn.
Are they going to build coal plants in Georgia and Alabama now?
So basically Trump is taking tax dollars from the other 48 states to prop up electricity customers in Georgia and Alabama? Where is the $26B for Washington and Oregon electricity customers?
Polls must be really bad if they think they need to bribe Georgia and alabama