"White House Trumpets $13 Billion Move to Reduce Energy Costs"

"The Biden administration is pushing electric heat pumps as a solution to high energy costs, enlisting companies like Airbnb, Lyft, and Procter and Gamble to spur production and installation of the energy-efficient heating systems.

The White House on Wednesday announced more than $13 billion in assistance aimed at lowering utility bills, creating union jobs, and meeting climate goals—with a big emphasis on heat pumps. Heat pumps are energy-efficient alternatives to gas furnaces because, rather than creating heat, they use electricity to transfer heat from a cool space to a warm space.

Vice President Kamala Harris is scheduled to visit a union hall and training facility in Boston to tout the workforce development opportunities from making more heat pumps domestically. The visit comes less than a week before the midterm elections as New England contends with high energy prices heading into winter."

Daniel Moore reports for Bloomberg Environment November 2, 2022.

Source: Bloomberg Environment, 11/02/2022