Virginia: A new NRDC analysis shows that the Build Back Better Act, as it currently stands, has the potential to significantly accelerate
Richmond, Virginia — A new NRDC analysis shows that the Build Back Better Act, as it currently stands, has the potential to significantly accelerate clean energy investment, economic activity, and job growth in Virginia. The Senate’s passage of the Build Back Better Act would bring these climate and economic benefits to states across the country.
“The Build Back Better Act has the potential to significantly accelerate this investment, economic activity, and job growth in Virginia,” said Walton Shepherd, Virginia Policy Director for NRDC . “Already, clean energy is the biggest job creator in our country’s energy sector, employing almost three times as many workers as the fossil fuel industry.
Percentage of in-state generation coming from carbon-free resources: 53–59 percent. Currently, in-state generation from no-carbon resources is 33 percent. Additional direct jobs, like those to manufacture, build, and service clean/low-carbon resources: 31,800–35,600.The House-passed Build Back Better Act contains more than $150 billion in clean electricity tax incentives as well as more than $25 billion for clean energy loans, grants, research, procurement, and other essential programs. Tax incentives are critical to driving clean energy deployment and reducing the cost of renewables and other clean energy resources.
The tax incentives included in the legislation are flexible and accessible to support all types of developers who will usher in the fastest — and most sustained — build-out of renewables in the country’s history. The incorporation of labor standards such as prevailing wage and domestic content requirements on clean energy credits will help increase American manufacturing and ensure that the jobs created are good jobs.
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