Did you see the big news?
The Build Back Better Act passed the House of Representatives on Friday.
The $2.2 trillion bill is one of the biggest pieces of legislation in U.S. history.
And $550 billion of that will go toward clean energy projects and other initiatives.
The House Budget Committee hails it as “the largest effort to combat climate change in American history.”
That said, the Senate will likely make a few tweaks to trim the cost a bit.
But the final version of the bill shouldn’t be much different.
So, today, I want to dive into exactly how that $550 billion windfall will transform the U.S. energy industry…
Here’s What’s in the Historic Bill
One highlight of the Build Back Better Act is over $300 billion in tax credits for clean energy investments.
These include:
- Clean energy projects such as solar, wind, geothermal and nuclear power.
- Battery storage.
- Companies that make parts used by clean energy companies.
- Businesses that capture and reduce carbon emissions.
- Biodiesel and alternative fuel projects.
But there’s A LOT more.
The bill adds $29 billion to the Greenhouse Gas Reduction Fund, which was created in 2012.
This money goes toward state and local projects to reduce carbon emissions.
It also gives homeowners tax credits for improvements such as solar panels and home batteries.
Other key sections of the bill are:
- $20 billion to mitigate damage caused by climate change.
- $19 billion in rebates for energy efficiency upgrades for homes and businesses.
- $16 billion to help rural areas transition to clean energy.
- $12.5 billion in grants and loans for U.S. electric vehicle (EV) makers.
- $9.5 billion to buy EVs for the federal government and the U.S. Postal Service.
The bill also provides money for climate and energy research, better forest management and a variety of other projects ranging from railways to ports to clean energy tech.
Lastly, the bill also restricts offshore oil drilling and cuts subsidies for oil companies.
The Future of Clean Energy
As you can see, clean energy has a lot of momentum.
But the reality is, over 50% of global power generation still comes from fossil fuels.
After all, fossil fuels are a cheaper option in many places.
But you know what’s better than cheap? Free.
And there’s a free, unlimited energy source that will make fossil fuels obsolete.
Ian King calls it “Infinergy.” That’s a clever way to say infinite energy.
And the companies bringing Infinergy to the masses are going to make A TON of money in the coming decades.
Some analysts think this market could be worth as much as $16 trillion.
That’s much bigger than the entire oil and gas market.
So, right now is the perfect time to invest in Infinergy.
To find out how, click here to watch Ian’s special presentation.
Regards,
Assistant Managing Editor, Banyan Hill Publishing
Morning Movers
Happy Thanksgiving!
The stock market is closed today.