Energy secretary says billions in upgrades to power grid needed for widespread EV adoption
The Biden administration and Democratic leaders in Congress have made federal support for electric vehicles a centerpiece of the $740 billion Inflation Reduction Act.
U.S. Energy Secretary Jennifer Granholm says billions of dollars in upgrades are needed to the power grid in the U.S. to prepare for widespread electric vehicle adoption.
The Biden administration and Democratic leaders in Congress have made federal support of electric vehicles a centerpiece of the $740 billion Inflation Reduction Act with the continuation of a $7,500 tax credit on the purchase of EVs and a $4,000 credit for used EV purchases.
"The power grid will definitely be upgraded, and part of this bill, as well as the bipartisan infrastructure law, is billions of dollars to make sure that we upgrade, add capacity and add resiliency to the grid," Granholm told Just the News after Biden's signing of the IRA.
Granholm said her department plans to put out guidance related to the renewable energy tax credits and other areas of the bill so the American public understands the areas of the bill that they can take advantage of this year and in 2023.
"They will be able to take advantage of, for example, putting solar panels on their roofs right away in 2022, the 30% tax credit, for example," she said. "There's so many provisions for moderate and low income families to be able to electrify their homes or to install energy efficiency. So between the two bills, a lot of that is available right now."
The renewable energy rebates will take longer to implement, likely well into 2023, Granholm explained.
"I think the rebates will take a bit of time because they have to move through Treasury, they've got to write the rules, they've got to get comments on them. So the rebates themselves will take a few months, well into 2023. "The tax credits will be available right away and so are the provisions related to weatherization."