Biden’s FY 2023 budget includes funding for energy independence, clean energy
President Joe Biden sent his fiscal year (FY) 2023 budget to Congress this week, which includes investments to strengthen U.S. energy independence and fight climate change through the accelerated deployment of clean energy.
Overall, the proposed budget for the Department of Energy in FY 2023 is $48.2 billion.
“After a year of unprecedented economic growth that resulted in over $500 billion in deficit reduction, the President’s Budget reflects his commitment to protecting our national security, cleaning up legacy pollution from historic nuclear activities, and transitioning the U.S. to clean energy,” U.S. Secretary of Energy Jennifer Granholm said. “As we facilitate the transition to clean energy, the investments reflected in this latest budget will cut costs for Americans and secure our energy independence on our path towards a net-zero future.”
The DOE’s proposed budget includes $502 million to weatherize at least 50,000 homes through the Weatherization Assistance Program. Also, $100 million is allocated for the Low-Income Home Energy Assistance Program (LIHEAP) Advantage pilot to retrofit and decarbonize low-income households. This will be done through the installation of energy efficient electric appliances and systems that will reduce energy bills. In addition, $105 million is set aside for Energy Future Grants to help states create more reliable and affordable clean energy systems.
Also, the budget calls for a $200 million investment to bolster the U.S. supply chain for solar energy technologies through a new Solar Manufacturing Accelerator. Further, $18 million is allocated for DOE’s National Laboratories to partner with other nations to develop decarbonization pathways and foster collaboration to bolster secure supply chains.
In addition, the DOE’s Loan Programs Office would receive $5 billion in new lending authority, which includes additional support for domestic critical mineral supply chains, while the Office of Manufacturing and Energy Supply Chains would receive $27 million in new mandatory funding to build resilient supply chains for clean energy equipment with allied nations.
The budget provides $4 billion for DOE’s Office of Energy Efficiency and Renewable Energy (EERE) for technologies and solutions to cut energy costs through low-cost clean energy resources. EERE investments will support measures and technologies that will reduce reliance on fossil fuels and make the nation more resilient to disruptions in oil and gas supply.
Also, the budget proposes a $7.8 billion investment in the Office of Science to support research at DOE’s National Laboratories and universities to accelerate novel technologies for clean energy solutions to mitigate climate change. Further, ARPA-E would receive $700 million to expand its scope beyond energy technology focused projects to include climate adaptation and resilience innovations.
It should also be noted that the Biden Administration will address cybersecurity risks by providing $202 million for the Office of Cybersecurity, Energy Security, and Emergency Response.
House Energy and Commerce Committee Chair Rep. Frank Pallone, Jr. (D-NJ) applauded Biden’s proposal.
“The President’s budget includes critical funding for clean energy technology to reduce our dependence on fossil fuels, so we are no longer vulnerable to the whims of dictators and global supply shocks. It also invests in public health with critical funds to slash greenhouse gas pollution and continue upgrading our aging drinking water infrastructure,” Pallone said.
Overall, the budget proposes a $1.3 trillion decline in the deficit, which would be the largest one-year decline ever.
