The Biden administration intends to expand collaboration with private sector organizations through a new governmentwide initiative aimed at updating federal building systems with clean energy technology.
The White House said Wednesday it seeks to drive more than $8 billion in corporate investments over the next eight years through energy savings performance contracting efforts under the Climate Smart Buildings Initiative.
Investments will support federal building modernization projects covering energy efficiency practices for on-site electricity generation, lighting, insulation and vehicle supply equipment.
The federal government plans to use $250 million in authorized Infrastructure Investment and Jobs Act funds to encourage the adoption of decarbonization methods via the Department of Energy-run Assisting Federal Facilities with Energy Conservation Technologies program.
In addition, the White House expects to cut annual greenhouse gas emissions by 2.8 million metric tons through 2030 and increase ESPC-driven investments by five times to $1.2 billion by the end of the decade.
The initiative is projected to create as many as 80,000 jobs.