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

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

U.S. Secretary of Energy Jennifer Granholm visits Nevada

  • On January 30, 2024 through January 31, 2024, Secretary Granholm will travel to Nevada to tour the Allegiant Stadium – described as the first National Football League stadium to be powered by 100% Renewable Energy. The Secretary will also meet with members of the Moapa Band of Paiutes to discuss their leadership in the development and deployment of solar power.  
  • The Secretary will attend the 2024 National Automobile Dealers Association Show, where she will discuss the critical role of local dealers in expanding electric vehicle adoption and achieving President Biden’s vision of a clean transportation future. To close out the visit to the Silver State the Secretary will then join U.S. Senator Jacky Rosen (NV) and U.S. Representative Dina Titus (NV-1) for a roundtable discussion with local union representatives.   

Strengthening Nevada’s Economy

Energy Jobs

  • In 2022, there were already 59,200 Nevada workers employed in the energy sector. Statewide, 74% of the electric power generation workforce was in wind, solar, and hydroelectric, and over 12,000 workers were employed in energy efficiency.  
  • The Inflation Reduction Act is expanding these opportunities, bringing an estimated $2.7 billion of investment in large-scale clean power generation and storage to Nevada between now and 2030.  

Small Businesses

  • Nevada is home to over 312,000 small businesses, representing 99.2% of all businesses and employing 43% 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, Nevada has over 5.5 GW of solar, wind, and storage capacity. This is in addition to 3.4 GW of nuclear capacity. There is almost 6 GW of additional planned clean energy capacity in the works in Nevada, which will more than double the amount of clean energy available on the state’s grid and power the equivalent of more than 810,000 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 22% and 35%, respectively, over the next 30 years in Nevada. 
  • Since the start of the Biden Administration, the U.S. Department of Energy (DOE) has tracked more than $150 billion in new battery and electric vehicle supply chain investment announcements, including $10.5 billion in Nevada.  
  • In the same period, DOE has tracked more than $14 billion in new solar manufacturing investment announcements, including a facility in Nevada that is projected to create 200 jobs.   

Clean Transportation

  • Nevada already has 36,900 EVs currently registered in the state. 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 up to $4,000 for used EVs, helping many Americans skip the gas pump and save on fuel costs.  
  • Nevada has over 1,600 alternative fueling ports already. The state will also receive over $8 million in federal funding in 2024 to help build out more EV charging stations. 

Investing In Nevada

  • Thanks to funding from President Biden’s Investing in America Agenda, the U.S. Department of Energy has made available more than $141 million in the past year to Nevada’s state and local governments to invest in energy efficiency and grid resilience. This includes funding to help low-income households access more efficiency appliances, and over $10 million to help strengthen grid resilience. 
  • Advanced Battery Technology Company has received $57 million from DOE to support a new state-of-the-art battery manufacturing facility in Nevada. Lilac Solutions also received $50 million to demonstrate a new lithium production technology.  
  • American Battery Technology Company also received almost $10 million from DOE to test several new processing technologies to their existing battery recycling facilities in Nevada to make recycling batteries more efficient and effective.   

Saving Nevadans Money on Home Energy Bills

  • The U.S. Department of Energy’s Weatherization Assistance Program and State Energy Program have invested more than $10 million in Nevada since 2015, leading to 330 jobs and over 700 homes with reduced energy costs and improved health and safety.  
  • Upgrading appliances and improving home energy efficiency could save a total of 1,900 GWh of energy in Nevada, enough to power the equivalent of 74,000 additional Nevada homes.  
  • Nevada will receive over $96 million to implement a Home Energy Rebate program in the state. Low-income households in the state could save an average of 28% 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 Nevada 9.7% on their utility bills. That amounts to $181 per year.  

Prioritizing Nevada’s Rural and 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. 
  • Nevada Clean Energy Fund, Warm Springs Consulting, and Washoe County were all selected for the first round of the Energizing Rural Communities Prize for their proposals to support rural communities in accessing more reliable and affordable energy.  
  • Nevada has five Community Networks part of the Rural Partners Network. Supported by USDA, DOE, and other federal agencies, the network focuses on projects prioritized by local communities that unlock the full potential of the region. 

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

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