Impact of America’s Investment Agenda on Tennessee’s Energy
U.S. Secretary of Energy Jennifer M. Granholm is set to visit Tennessee to discuss advancements in clean energy, particularly in nuclear technologies, with the goal of achieving net-zero emissions by 2050. Tennessee’s energy sector has already generated considerable employment, with over 209,951 employees in 2022, and the Inflation Reduction Act is expected to further boost this through a $900 million investment in clean power generation and storage by 2030. The state, which has 561 MW of solar and wind capacity and 5 GW of nuclear capacity, is also benefiting from significant investment in electric vehicles and charging stations, energy efficiency in commercial buildings, and other green initiatives.
Energy Secretary Jennifer Granholm’s Visit to Tennessee
- On December 5, 2023, U.S. Secretary of Energy Jennifer Granholm will visit Tennessee to meet with the Tennessee Valley Authority (TVA) Leadership and local energy leaders, representing Biden-Harris Administration’s investment in clean energy in the South.
- The visit to the Clinch River Nuclear Site will highlight the importance of advanced nuclear technologies, a key tool to achieve net-zero emissions by 2050.
Strengthening Tennessee’s Economy
- Tennessee’s energy sector employed 209,951 workers in 2022, with majority of the workforce in wind, solar, and hydroelectric power and energy efficiency.
- The Inflation Reduction Act is estimated to bring $900 million of investment in large-scale clean power generation and storage to Tennessee by 2030.
Investment in Small Businesses and Clean Energy in Tennessee
- Tennessee’s 653,000 small businesses will benefit from the Inflation Reduction Act, which supports energy efficiency improvements and installation of low-cost solar power.
- Investments in wind and solar energy will reduce energy costs, and 561 MW of solar and wind capacity and over 580 MW of additional planned solar energy capacity will provide power for 83,000 additional homes in Tennessee.
Clean Transportation and Energy Investments in Tennessee
- Tennessee’s EV charging infrastructure is expanding with over $18.8 million federal funding from the Bipartisan Infrastructure Law.
- Tennessee is also seeing growth in electric vehicles registrations with the help of the Inflation Reduction Act, which provides discounts for EV purchases.
- Investments in energy efficiency and grid resilience of more than $103.6 million have been made available to Tennessee’s state and local governments.
Lowering Energy Bills for Tennesseans
- DOE’s Weatherization Assistance Program and State Energy Program have invested over $55.1 million in Tennessee since 2015, resulting in reduced energy costs for over 2,800 homes.
- Tennessee is set to receive over $167 million for a Home Energy Rebate program which could save low-income households an average of 44% on their home energy bills.
Supporting Underserved Communities in Tennessee
- The Biden Administration’s Justice40 Initiative aims to ensure Federal agencies deliver at least 40% of the overall benefits of climate and clean energy investments to disadvantaged communities.
- Nashville, TN is participating in a Clean Energy to Communities Peer Learning Cohort sponsored by DOE to develop a municipal clean energy strategy.
For current DOE funding opportunities, visit: www.energy.gov/infrastructure
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