Biden marks Earth Day with $7bn ‘solar for all’ investment amid week of climate action

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🗞️ Driving the news: President Joe Biden announces a $7 billion investment in the "solar for all" initiative, focusing on solar energy projects aimed at disadvantaged communities 
• This investment is part of a broader effort by the administration, dubbed a week of "historic climate actions"

🔭 The context: The funds, drawn from the Inflation Reduction Act, aim to benefit over 900,000 households by investing in states, territories, tribes, municipalities, and nonprofits 
• The initiative highlights Biden's ongoing efforts to address climate change and economic disparity simultaneously

🌍 Why it matters for the planet: This substantial investment in solar energy contributes to reducing carbon emissions and promotes environmental justice by targeting low-income and disadvantaged areas 
• It's a pivotal part of the broader Justice40 initiative, ensuring at least 40% of federal clean energy benefits reach marginalized communities

⏭️ What's next: Biden's "Earth Week" agenda includes nationwide efforts focusing on clean water, transportation, and pollution reduction, indicating a comprehensive approach to environmental and climate policy

💬 One quote: "This historic investment will generate more than $8 billion in savings on electric bills for the overburdened households over the entire life of the program," (Janet McCabe, deputy administrator of the EPA)

📈 One stat: The program is expected to create 200,000 jobs

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