The most sweeping climate change legislation in U.S. history is on its way to President Biden's desk after clearing the House Friday in a 220-207 party-line vote.
Why it matters: In addition to huge investments for clean energy technologies, the bill will eventually help shift where our energy comes from, the appliances we purchase, how we heat and cool our homes, which cars we drive, and even the jobs we have.
The big picture: The legislation will attempt to reduce greenhouse gas emissions through billions of dollars in incentives, grants and other support to develop clean energy and emissions-reducing technologies.
- Those technologies include hydrogen, energy storage devices and direct air capture that pulls CO2 from the atmosphere.
- But none of these will be visible to most people in the short term. Instead, how much it affects you will depend on your economic status and your stage in life.
- If you're in the market for an electric vehicle or a new water heater, you'll see this bill's effects quickly. But if you don't own a home and aren't going car shopping anytime soon, it may take longer for you to notice its footprint.
Zoom in: The bill's changes and expansion of electric vehicle tax credits have received the most media attention to date, but its home electrification provisions are more significant, experts tell Axios....
- For the country's 122 million households, the bill contains about $100 billion for electrification programs at the neighborhood level, according to Rewiring America, a nonprofit group whose proposals helped shape some bill provisions.