Biden Administration Unveils USD 6 Billion Plan to Decarbonize US Industries
The initiative, backed by up to USD 6 billion, aims to decarbonize energy-intensive industries across more than 20 states.
March 27, 2024. By Abha Rustagi
The initiative, backed by up to USD 6 billion, aims to decarbonize energy-intensive industries across more than 20 states, creating high-quality jobs, reducing greenhouse gas emissions, and strengthening the nation’s manufacturing competitiveness.
Funded by the President’s Bipartisan Infrastructure Law and Inflation Reduction Act, the ambitious plan will support 33 projects targeting industries with the highest emissions, including aluminum, cement, chemicals, iron, and steel. These projects are projected to collectively reduce over 14 million metric tons of carbon dioxide (CO2) emissions annually, equivalent to the yearly emissions of 3 million gasoline-powered cars.
"This investment marks the largest in industrial decarbonization in American history," stated US Secretary of Energy Jennifer M. Granholm. "It will propel the next generation of decarbonization technologies, ensuring American businesses and workers remain at the forefront of the global economy."
The initiative is poised to create and maintain tens of thousands of high-quality jobs, particularly emphasizing worker organizing and collective bargaining. Each project is expected to develop a comprehensive Community Benefits Plan to ensure meaningful community and labor engagement, aligning with President Biden’s commitment to an equitable and inclusive clean energy future.
Nearly 80 percent of the projects are situated in disadvantaged communities, presenting a significant opportunity to invest in both employment and environmental improvement in areas historically affected by industrial emissions.
The selected projects span various industries, from chemicals and refining to cement and concrete, iron and steel, aluminum and metals, food and beverage, glass, process heat, and pulp and paper. Each project demonstrates innovative approaches to decarbonization, such as upcycling captured carbon into value-added products and pioneering clean hydrogen-fueled processes.
The initiative also aims to lay the foundation for an inclusive clean energy future, prioritizing partnerships with communities and industries to address environmental and energy justice. To facilitate ongoing engagement, the DOE will host national and regional virtual briefings, providing opportunities for industry and communities to participate in project discussions.
While selection for award negotiations does not guarantee funding, the initiative signals a significant step towards a more sustainable industrial sector in the United States. As negotiations proceed, the DOE remains committed to evaluating each project's progress and impact on community benefits, ensuring a transparent and accountable approach to achieving decarbonization goals.
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