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Policy Monitor A Preliminary Assessment of the American Recovery and Reinvestment Act's Clean Energy Package -super-1

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  • Joseph E. Aldy

Abstract

The American Recovery and Reinvestment Act included more than $90 billion in strategic clean energy investments intended to promote job creation and deployment of low-carbon technologies. In terms of spending, the clean energy package has been described as the nation's "biggest energy bill in history." This article provides a preliminary assessment of the Recovery Act's clean energy package through a review of the act's rationale, design, and implementation. The article first surveys the policy principles for a clean energy stimulus and describes the process of crafting the clean energy package during the 2008--9 presidential transition. Then the article reviews the initial employment, economic activity, and energy outcomes associated with these energy investments, and it provides a more detailed case study of the Recovery Act's support for renewable power through grants and loan guarantees. The article concludes with a discussion of lessons learned.(JEL: E61, Q48, Q54) Copyright 2013, Oxford University Press.

Suggested Citation

  • Joseph E. Aldy, 2013. "Policy Monitor A Preliminary Assessment of the American Recovery and Reinvestment Act's Clean Energy Package -super-1," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 7(1), pages 136-155, January.
    • Handle: RePEc:oup:renvpo:v:7:y:2013:i:1:p:136-155
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    File URL: http://hdl.handle.net/10.1093/reep/res014
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    Citations

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    Cited by:

    1. Saussay, Aurélien & Sato, Misato & Vona, Francesco & O’Kane, Layla, 2022. "Who’s fit for the low-carbon transition? Emerging skills and wage gaps in job and data," FEEM Working Papers 329079, Fondazione Eni Enrico Mattei (FEEM).
    2. Aldy, Joseph E. & Burtraw, Dallas & Fischer, Carolyn & Fowlie, Meredith & Williams, Roberton C. & Cropper, Maureen L., 2022. "How is the U.S. Pricing Carbon? How Could We Price Carbon?," Journal of Benefit-Cost Analysis, Cambridge University Press, vol. 13(3), pages 310-334, October.
    3. Newell, Richard G. & Pizer, William A. & Raimi, Daniel, 2019. "U.S. federal government subsidies for clean energy: Design choices and implications," Energy Economics, Elsevier, vol. 80(C), pages 831-841.
    4. Aldy, Joseph E., 2022. "Learning How to Build Back Better through Clean Energy Policy Evaluation," RFF Working Paper Series 22-15, Resources for the Future.
    5. David Popp & Francesco Vona & Giovanni Marin & Ziqiao Chen, 2020. "The Employment Impact of Green Fiscal Push: Evidence from the American Recovery Act," NBER Working Papers 27321, National Bureau of Economic Research, Inc.
    6. Houde, Sebastien & Aldy, Joseph E., 2014. "Belt and Suspenders and More: The Incremental Impact of Energy Efficiency Subsidies in the Presence of Existing Policy Instruments," RFF Working Paper Series dp-14-34, Resources for the Future.
    7. J Mijin Cha & Caroline Farrell & Dimitris Stevis, 2022. "Climate and Environmental Justice Policies in the First Year of the Biden Administration," Publius: The Journal of Federalism, CSF Associates Inc., vol. 52(3), pages 408-427.
    8. Lim, Taekyoung & Guzman, Tatyana S. & Bowen, William M., 2020. "Rhetoric and Reality: Jobs and the Energy Provisions of the American Recovery and Reinvestment Act," Energy Policy, Elsevier, vol. 137(C).
    9. repec:hal:spmain:info:hdl:2441/7ii74oepuk9mc8fhilvvhfmbgp is not listed on IDEAS
    10. Joanna I. Lewis, 2014. "The Rise of Renewable Energy Protectionism: Emerging Trade Conflicts and Implications for Low Carbon Development," Global Environmental Politics, MIT Press, vol. 14(4), pages 10-35, November.
    11. Tibebu, Tiruwork B. & Hittinger, Eric & Miao, Qing & Williams, Eric, 2021. "What is the optimal subsidy for residential solar?," Energy Policy, Elsevier, vol. 155(C).

    More about this item

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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