From The Atlantic
“Yesterday, President Joe Biden signed into law one of the most significant investments in fighting climate change ever undertaken by the United States. The new act will boost efforts to manufacture more zero-carbon technology in America, establish a new federal office to organize clean-energy innovation, and direct billions of dollars toward disaster-resilience research. Over the next five years, the CHIPS Act could direct an estimated $67 billion, or roughly a quarter of its total funding, toward accelerating the growth of zero-carbon industries and conducting climate-relevant research, according to an analysis from RMI, a nonpartisan energy think tank based in Colorado… One word of caution: The CHIPS bill only authorized much of its new clean-energy spending, but did not appropriate it, a legal distinction that means agencies must go back to Congress in the future to secure the right to put the funds toward specific purposes.”
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