For people who want news coverage of this, the are articles from the Associated Press and Reuters
Rookie numbers
It’s part of the Inflation Reduction Act, so it’s far from the only thing happening. My expectation is that consistent with the history of US electric supply, private capital will supply the bulk of what’s needed here.
For sure. This is basically the incentives and kick starting. Sustainable energy and utility production are already massively profitable. This is just a basic usage of the tax system to prioritize and incentivize specific actions for the systems/places that likely need it most.
A ton of private capital will be flowing and it’s likely that many investors and private business owners will get very wealthy from these programs. Not to mention that many others will gain valuable employment.
Will it be completely perfect? Nope. But it’s exactly what developed nations do to create a nice place to live with reliable, advanced infrastructure. And they’ll create many economic windfalls while doing so.