Stimulate Me: A Greener Economy by AJ McCreary

The state of the economy is no new news, but the recent signing of the stimulus package, is not only exciting, but promising. The package addresses a variety of issues from jobs, and foreclosures to renewable energy and green jobs.
Of the $787 billion allotted for the stimulus package, $71 billion is for energy and environmental initiatives and another $20 billion for green tax incentives. A break down of that money is:
* $5 billion for low-income weatherization programs
* $6 billion in grants for state and local governments to modernize federal buildings, with a particular emphasis on energy efficiency.
* $11 billion for “smart grid” investments.
* $3.4 billion for carbon capture and sequestration demonstration projects (otherwise known as “clean coal”)
* $2 billion for research into batteries for electric cars.
* $500 million to help workers train for “green jobs.
* A three-year extension of the “production tax credit” for wind energy (including a tax credit extension for biomass, geothermal, landfill gas and some hydropower projects).
* As well as the option for developers, to turn their tax credits into direct cash, with the government underwriting 30 percent of a project’s cost.
This sounds like a bunch of big numbers, but it is going to have a big impact on the American people! What this is essentially going to do:
1. Create 3.5 million more jobs across America
2. Supports green and sustainable energy: low income programs, investing in new technology, as well as grants for business.
3. Create new tax credits; expect rebates similar to the ones we saw in 2007.
For more information:
Individual tax rebates
Graph of Stimulus breakdown