Austin, Texas — A new NRDC analysis shows that the Build Back Better agenda, as it currently stands, has the potential to significantly accelerate clean energy investment, economic activity, and job growth in Texas. The Senate needs to address the provisions as soon as possible to bring these climate and economic benefits to states across the country.
Projected benefits of the Build Back Better agenda in Texas include:
- 75,100–82,300 local jobs created in manufacturing, building, and servicing clean energy resources.
- 21,800–30,200 new megawatts of clean energy, enough to power 850,000–1.4 million homes every year.
“Enacting the Build Back Better agenda is a critically-needed investment in our nation’s future,” said John Bowman, Managing Director for Government Affairs at 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. The Build Back Better agenda offers tax incentives to further boost job creation and expand the renewable energy industry, especially in low-income communities, and support a just transition for communities that have relied on fossil fuel revenue and jobs in the past.”
The full fact sheet and analysis is available here.
The House-passed Build Back Better agenda 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 (small and large, for-profit and not-for-profit) who will usher in the fastest — and most sustained — build-out of renewables in the country’s history. New bonus credits for projects built that meet strong labor standards, create well-paying jobs, and drive equitable access to clean energy resources.
223,406 of Texans worked in the clean energy sector in 2020, according to the Clean Jobs America 2021 report from E2. This includes 38,675 in renewable energy, 152,111 in energy efficiency, and 18,265 in clean vehicles. The clean energy sector in Texas grew 9.2% percent between 2018 and 2020, and the Build Back Better agenda could accelerate that growth in the coming years.
NRDC (Natural Resources Defense Council) is an international nonprofit environmental organization with more than 3 million members and online activists. Since 1970, our lawyers, scientists, and other environmental specialists have worked to protect the world’s natural resources, public health, and the environment. NRDC has offices in New York City, Washington, D.C., Los Angeles, San Francisco, Chicago, Bozeman, MT, and Beijing. Visit us at www.nrdc.org and follow us on Twitter @NRDC.
Press release from NRDC.