For example, assess the opportunity for public‒private partnerships by identifying where collective effort from the public and private sectors could maximize and scale impact (for example, scale up first-of-its-kind green infrastructure and innovation) and where risks need to be managed and mitigated (for example, guarantees) across the energy ecosystem. For example, identify a multiuse corridor to facilitate codevelopment of power transmission line and roads. Consider opportunities for shared land use and right of way for infrastructure development.Department of Energy’s Office of Energy Efficiency & Renewable Energy (EERE) 3 “EERE funding opportunity exchange,” US Department of Energy, accessed February 2023.: EERE’s Funding Opportunity Exchange provides access to the latest funding opportunities, including BIL programs.Bipartisan Infrastructure Law Programs at the Department of Energy 2 “Bipartisan Infrastructure Law programs at Department of Energy,” US Department of Energy, accessed February 2023.: Online catalog of 70 BIL energy programs, including program details and timelines.White House Bipartisan Infrastructure Law (BIL) Open Funding Opportunities 1 “Bipartisan Infrastructure Law: Funding opportunities you can apply for today,” The White House, updated February 2023.: Highlights the latest programs communities could apply for.
Public and private entities have a number of resources available to help them track clean energy opportunities: This article, part of our Reinvesting in America series, breaks down BIL spending on clean-power infrastructure in the following exhibits. 2 For more on BIL spending, see McKinsey’s BIL Navigator. The act provides funding across a wide range of stakeholders-including state, local, federal, utilities, and industries-and across the power value chain, from generation down to storage and emissions management, including clean energy, electric-grid improvements, carbon capture, and clean-hydrogen development. At the same time, increased frequency of extreme weather events combined with aging electric-power infrastructure is making the power system increasingly vulnerable to prolonged outages. Decarbonizing the power sector is therefore critical to mitigating the impact of climate change. The power sector currently accounts for about a quarter of total greenhouse-gas (GHG) emissions in the United States.
As of January 2023, roughly 40 percent of total BIL clean-energy funding had been launched 1 Includes funding that has been awarded, is open for application submission, or has closed its application submission process., with remaining prenotice programs expected to begin funding cycles in early 2023. One core component of the legislation is accelerating the clean-energy transition and improving the reliability and resilience of electric-power infrastructure. The Infrastructure Investment and Jobs Act, also known as the Bipartisan Infrastructure Law (BIL), which was signed in November 2021, will provide more than $1 trillion in public investment.
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