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Data: Rhodium Group; Chart: Axios Visuals

The U.S. has spent the biggest share of its GDP on discretionary stimulus spending compared to other major economies, but it’s spent the smallest share on clean energy, per a new analysis from consultancy Rhodium Group.

Why it matters: To what degree the world invests in clean-energy technologies as it recovers from the pandemic-induced recession could go a long way toward reaching climate goals.

Data: Rhodium Group; Chart: Axios Visuals

By the numbers:

  • The U.S. has spent roughly 12% of its GDP on discretionary stimulus spending, but it’s spent the smallest share on green spending, at just 1.1%.
  • That’s compared to the European Union, which has spent so far 10.4% of its GDP on discretionary stimulus but more than 20% is going toward clean energy.

Go deeper

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Nov 16, 2020 - Energy & Environment
Column / Harder Line

Biden's Day 1 challenges: Climate change

Illustration: Aïda Amer/Axios

President-elect Joe Biden will face constraints of both politics and time when it comes to pursuing his aggressive climate-change agenda.

Driving the news: Biden will enter a White House after four years of President Trump rolling back climate policies and time running out to substantively address the problem.

Ben Geman, author of Generate
Dec 15, 2020 - Energy & Environment

Lawmakers close to striking bipartisan deal on phasing down hydrofluorocarbons

Illustration: Sarah Grillo/Axios

All kinds of strange things can happen in a lame-duck session — ahead of a White House transition no less — and apparently a bipartisan energy deal is among them.

Driving the news: Per multiple reports (like this Washington Examiner piece) and some of Axios' own sourcing, lawmakers are closing in on an agreement on a package that would be attached to an omnibus spending deal moving through Congress.

Ben Geman, author of Generate
Dec 15, 2020 - Energy & Environment

Renewables are fighting off the pandemic

New data released this morning shows that total U.S. solar installations will reach a new record this year.

Why it matters: It's one of several recent signs that the trajectory of the renewables sector has been less hampered by COVID-19 than initially feared.