USGBC Sees Green in Stimulus Bill

The $787 billion American Recovery and Reinvestment Act (ARRA) of 2009 includes allocations that could result in billions of dollars used for green building, retrofitting, energy efficiency and renewable energy projects. Much of the spending is earmarked for federal facilities, as well as in state universities and local schools.

While energy efficiency will get much of the attention, the spending on renovations, new construction and green building products could provide opportunities for contractors and makers of basic materials, including recycled-content materials.

The expenditure categories of ARRA include:

• Roughly $9 billion to be administered by the federal Department of Education that will go toward, among other things, projects that may include school modernization, renovation, and repair consistent with a recognized green building rating system.
• $5.55 billion to the federal General Services Administration (GSA) for federal buildings, including $4.5 billion for measures to make GSA facilities “high-performance green buildings,” as defined by the 2007 energy law.
• The ARRA also provides several billion dollars for facility-related construction, renovation, and repair projects in other federal agencies, including the Department of Defense.
• The $5 billion federal Weatherization Assistance Program portion of the bill provides assistance to low-income families in weatherizing and improving the energy efficiency of their homes.
• Some $4 billion is allocated toward the Public Housing Capital Fund, which provides funds to public housing agencies nationwide for the development, funding, and modernization of public housing developments. Priority investments identified include “investments that leverage private sector funding or financing for renovations and energy conservation retrofit investments.”
• A Green Jobs provision of the Act provides $500 million for training and employment services “for research, labor exchange and job training projects to prepare workers for careers in energy efficiency and renewable energy industries.” 
• Among other incentives, the bill provides increased authorizations for clean renewable energy bonds (increased by $1.6 billion) and qualified energy conservation bonds (from $800 million to $3.2 billion).