US 2011 Budget Adds $100 billion to Stimulus

Here are some highlights of President Obama's 2011 budget request

Eliminating tax credits and subsidies for the carbon industry

• Eliminating more than $2.7 billion in tax subsidies for oil, coal and gas industries. Estimated to generate more than $38.8 billion dollars for the federal government over the next 10 years.
• Terminating Ultra-Deepwater exploration program, saving $50 million.
• Canceling planned expansion of the Strategic Petroleum Reserve, saving $71 million.

The 2011 Budget provides $28.4 billion for the Department of Energy (DOE) to support scientific innovation, develop clean and secure energy technologies, maintain national security, and reduce environmental risk.

Increased support for nuclear power, renewable energy, and the smart grid

• $36 billion in new loan authority – for a total of $54.5 billion – to expand support for DOE loan guarantees for nuclear power facilities.
• $500 million in credit subsidy to support $3 billion to $5 billion in loan guarantees for innovative energy efficiency and renewable energy projects.
• $144 million for research, development, and demonstration activities to modernize the grid including smart-grid technologies that will spur the transition to a smarter, more efficient, secure and reliable electric system, resulting in energy- and cost-saving choices for consumers, reduced emissions, and growth of renewable energy sources.

Investment in clean energy technologies

$4.7 billion in clean energy technology investments at DOE, including:

• Nearly $2.4 billion, an increase of $113 million, for energy efficiency and renewable energy programs including $302 million for solar energy, $220 million for biofuels and biomass R&D, $325 million for advanced vehicle technologies, and $231 million for energy efficient building technologies.
• $545 million for advanced coal climate change technologies to focus resources to develop carbon capture technologies with broad applications to advanced coal power systems, existing power plants, and industrial sources.
• $300 million for the Advanced Research Projects Agency–Energy to accelerate game-changing energy technologies in need of rapid and flexible experimentation or engineering.
• $793 million for clean energy activities and civilian nuclear energy programs, including research and development and infrastructure programs. The budget includes a new cross-cutting research program to address technology needs for all aspects of nuclear energy production.

The Department of Energy has identified additional high performance goals including

• Double renewable energy generating capacity (excluding conventional hydropower) by 2012.
• Assist in the development and deployment of advanced battery manufacturing capacity to support 500,000 plug-in hybrid electric vehicles a year by 2015.
• DOE and HUD will work together to enable the cost-effective energy retrofits of a total of 1.1 million housing units through 2011.
• Commit (conditionally) to loan guarantees for two nuclear power facilities to add new low-carbon emission capacity of at least 3,800 megawatts during 2010.