Enacted by Congress in 2022, the Greenhouse Gas Reduction Fund (GGRF) has a statutory requirement to cut climate pollution while also mobilizing private capital investment and delivering “the benefits of greenhouse gas reducing projects to American communities.” New Energy Innovation and University of New Hampshire analysis quantified the GGRF’s economic benefits
- An average of 36,000 to 41,000 more jobs annually compared to current policies. Of these, 9,500-10,800 are manufacturing jobs and 7,700-8,800 are construction jobs, with the remainder falling into other service jobs.
- An additional $21.3 to $23.9 billion in wages earned between 2025 and 2031.
- Consumer energy cost savings of $52 billion over the next 20 years.
- Enough power from new solar projects to power up to 2.2 million homes each year.
- Total investment in the U.S. economy of $65.5 billion.
