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Energy Facts: Impact of the Investing in America Agenda on Missouri

Energy Facts: Impact of the Investing in America Agenda on Missouri

U.S. Secretary of Energy Jennifer Granholm visits Missouri

  • On August 8, 2023, U.S. Energy Secretary Jennifer Granholm will travel to Missouri to discuss how the U.S. Department of Energy (DOE) is advancing the Biden-Harris Administration’s whole-of-government effort to secure America’s clean energy future and bolster America’s energy security while lowering costs for American families and creating good-paying jobs across country,
  • The Secretary will participate in the groundbreaking of the Bipartisan Infrastructure Law funded ICL facility and visit a local homeowner to highlight how weatherization and other energy retrofit programs are driving down household energy costs.

Strengthening Missouri’s Economy

Energy Jobs

  • In 2022, there were already 157,296 Missouri workers employed in the energy sector.
  • In the St Louis area in 2021, almost 50% of the electric power generation workforce was in wind, solar, and hydroelectric, and over 20,000 workers were employed in energy efficiency.
  • The Inflation Reduction Act will expand these opportunities, bringing an estimated $6.6 billion of investment in large-scale clean power generation and storage to Missouri between now and 2030.

Small Businesses

  • Missouri is home to 542,700 small businesses, representing 99.4% of all businesses and employing 45.3% of all workers in the state, and the Inflation Reduction Act will help them save money. Commercial building owners can receive a tax credit up to $5 per square foot to support energy efficiency improvements that deliver lower utility bills. Other programs that will benefit small businesses include tax credits covering 30% of the costs of installing low-cost solar power and of purchasing clean trucks and vans for commercial fleets.

Clean Energy Investment

  • Currently, Missouri has 2.5 GW of solar, wind, and storage capacity. There is 80 MW of additional planned clean energy capacity in the works in the state, enough to power more than 9,000 additional homes. The Inflation Reduction Act tax credits that encourage investment in wind and solar will help reduce energy costs, as the costs of solar and wind power are projected to drop by 24% and 35%, respectively, over the next 30 years in Missouri.
  • Since the start of the Biden Administration, the U.S. Department of Energy (DOE) has tracked more than $100 billion in new battery supply chain investments, including $520 million in Missouri.

Clean Transportation

  • Missouri had over 25,000 Electric Vehicles (EV) already registered in the state in 2022, a 46% increase over the 17,300 registered in 2021. Drivers switching to an electric pickup truck could save over $1700 per year in fueling and maintenance costs compared to a gasoline-powered truck. Drivers of smaller cars could save over $1200 per year. The Inflation Reduction Act will make it easier and cheaper to purchase an electric vehicle, with upfront discounts up to $7,500 for new EVs and $4,000 for used EVs, helping many Americans skip the gas pump and save on fuel costs.
  • Missouri has 2,498 electric vehicle charging ports already. The state will also receive $21.1 million in federal funding from the Bipartisan Infrastructure Law to help build out more EV charging stations.

Investing In Missouri

  • Thanks to funding from President Biden’s Investing in America Agenda, the U.S. Department of Energy (DOE) has made available more than $108 million in the past year to Missouri’s state and local governments to invest in energy efficiency and grid resilience. This includes administrative funding to build a robust rebate program to help low-income households access more efficiency appliances, and almost $7 million to help strengthen grid resilience. 
  • ICL Group Ltd. has received over $197 million in support from DOE to expand its existing St. Louis plant to produce lithium iron phosphate, an important component in the domestic battery manufacturing supply chain.

Saving Missourians Money on Home Energy Bills

  • The U.S. Department of Energy’s Weatherization Assistance Program and State Energy Program have invested more than $60.8 million in Missouri since 2015, leading to 641 jobs and over 11,000 homes with reduced energy costs and improved health and safety.
  • Upgrading appliances and improving home energy efficiency could save a total of 6560 GWh of energy in Missouri, enough to power 252,000 Missouri homes.
  • Missouri will receive over $151 million to implement a Home Energy Rebate program in the state. Low-income households in Missouri could save an average of 39% on their home energy bills when they upgrade their appliances and improve energy efficiency through this program.
  • The Inflation Reduction Act also includes grants to help state and local governments adopt the latest building energy codes, which would save the average new homeowner in Missouri 26% on their utility bills. That amounts to $677 per year.

Prioritizing Missouri’s Underserved Communities

  • The Biden Administration has committed to advancing equity for all communities, including through the Justice40 Initiative, which aims to ensure Federal agencies deliver at least 40% of the overall benefits of climate, clean energy, affordable and sustainable housing, clean water, and other investments to disadvantaged communities. The U.S. Department of Energy (DOE) has more than 140 programs covered by this initiative.
  • AV3 Energy in Lecoma, MissouriO, was selected in the first round of the Community Power Accelerator Prize, which seeks to expand access to community solar. They are now competing for a share of a larger prize.

For current DOE funding opportunities, visit: www.energy.gov/infrastructure

Official news published at https://www.energy.gov/articles/energy-facts-impact-investing-america-agenda-missouri

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