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CLEAN ENERGY

The U.S to cut costs for clean energy projects on Federal Lands

The U.S to cut costs for clean energy projects on Federal Lands
The Siliconreview
01 June, 2022

The Department of Interior states that this would cause the rents of solar and wind projects to fall by about 50%.

It is well-known that clean energy is derived from natural resources that are replenishable and imperative for our environment. In the US, Biden administration is looking to substantially reduce the cost of building wind and solar energy on federal lands. For years, clean power developers have been lobbying for the same as the lease rates, and the fees for facilities on federal lands were exorbitant. The renewable energy industry has historically depended on private lands for its operations. As extensive tracts of unbroken private are becoming scarce, federal lands are the best bet. The Department of Interior states that this would cause the rents of solar and wind projects to fall by about 50%.

Further, there are also plans to boost the number of people processing renewable energy and environmental reviews and applications through five coordinating offices in Washington, Nevada, Utah, Arizona, and California. The new offices are expected to improve coordination with Environment Protection Agency and the agriculture, energy, and defense departments. The Presidential Office aims to meet the congressional mandate to permit 25 gigawatts of renewable energy on federal lands by 2025. This is expected to power 4.7 million US homes. Washington’s decision to boost clean energy is part of the broader effort to fight global warming.