Yellen Showcases Biden’s Clean Energy Initiative

Boosting Economic Revitalization

According to SmartNews, U.S. Treasury Secretary Janet Yellen visited Elizabethtown, Kentucky to show how the Biden government is helping areas that used to rely on coal. Yellen talked about how Biden’s tax credits have encouraged clean energy investments doubling to $4.5 billion each month in places that depend on coal. This fits with Biden’s plan to grow new industries like electric cars green energy and semiconductors.

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Kentucky’s Clean Energy Evolution

During her visit, Yellen went to Advanced Nano Products a company making materials for electric car batteries. This shows how Kentucky is becoming a hub for making batteries. Since Biden took office companies have pledged $650 billion for clean energy projects across the country. Yellen talked about how tax credits are encouraging companies to invest in clean energy. She also mentioned big battery factories like BlueOval SK and AESC which are taking advantage of these credits. Kentucky is important for coal, making almost 5% of all U.S. coal in 2022. Yellen’s visit is about showing how clean energy investments can bring new jobs and industries to places like Kentucky. As the Biden government keeps supporting clean energy Yellen’s trip shows how it can help areas that used to rely on coal to grow in new ways.