- The ‘American Jobs Plan’ proposes spending more than $380bn on the clean energy sector
- As the world’s largest generator of wind and solar power, NextEra Energy could be a big beneficiary
At the end of last month, the Biden administration unveiled plans to spend $2 trillion (£1.4 trn) on US infrastructure over the next decade. While a considerable proportion of that total is directed at traditional infrastructure, such as roads and bridges, Biden has used this opportunity to reiterate his commitment to combatting climate change.
The ‘American Jobs Plan’ – which could easily have been called the ‘American Climate Plan’ – proposes investing more than $380bn in the clean energy sector, on everything from electric vehicle (EV) charging infrastructure to modernising the electrical grid. It also provides a 10-year extension to tax credits for renewable energy generation, totalling an estimated $400bn.