Bring in the Billions

The report emphasizes that US states are currently underutilizing federal clean energy incentives, particularly tax credits, and suggests that states adopt administrative programs, demand-pull policies, and stacking analyses to capture this investment potential. It notes that while residential tax credit usage is higher than predicted, most states are not on track to reach their full investment potential by 2030. The analysis, which covers the lower 48 US states, utilizes updated data from the JCT and CBO to estimate sector-specific funding opportunities.

• Most US states are currently not on track to achieve their full investment potential regarding clean energy incentives, although residential tax credits have been used by four times more households than previously predicted.
• States can capture federal and private investments by implementing specific tactics: launching administrative programs to support clean technology adoption, passing policies to create market demand, and using government convening power to educate targeted sectors.
• The Greenhouse Gas Reduction Fund (GGRF) has allocated $20 billion to financial institutions nationwide to support the adoption of clean technology.
• The analysis of federal spending projections for the lower 48 states used updated data from the JCT released in May 2023, which resulted in government estimates that are 71 percent higher than the original CBO estimates.

APA

RMI (2024). Bring in the Billions. https://rmi.org/resources/bring-in-the-billions/

Chicago

RMI. Bring in the Billions. 2024. https://rmi.org/resources/bring-in-the-billions/.

Wikipedia

{{cite report |author=RMI |title=Bring in the Billions |date=16 August 2024 |url=https://rmi.org/resources/bring-in-the-billions/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{rmi2024bring, author = {{RMI}}, title = {{Bring in the Billions}}, institution = {RMI}, year = {2024}, month = aug, url = {https://rmi.org/resources/bring-in-the-billions/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }