The Biden administration on Thursday finalized a rule that cuts costs for developing solar and wind energy on public lands.
The rule was expected to cut by 80 percent fees that are based on how much energy is produced through the year 2035.
A partial reduction is already in place based on 2022 guidance, but the administration said that the new rule contains further cuts and codifies them into the federal register.
The fee cuts become less dramatic after 2035 and will ratchet down in the following years to be just a 20 percent cut in 2038 and beyond.
The rule also seeks to expand energy production in designated “priority areas” by simplifying the process for issuing new rights to build wind and solar projects.
The administration announced additional milestones alongside the rule, saying that the Interior Department has now given the OK to enough renewable projects on public lands to power 12 million homes.
Interior Secretary Deb Haaland told reporters on a press call that the Biden administration has approved more than double the number of renewable energy projects than the Trump administration did during its four years.
“The previous administration did everything they could to hobble our department’s clean energy program, but we’re making up for lost time,” she said.
In addition to the cost cut and milestone, the administration announced that two major solar projects in California were now fully operational.