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

Joseph Aldy

Review of Environmental Economics and Policy, 2013, vol. 7, issue 1, 136-155

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.

Date: 2013
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