The $1 trillion infrastructure bill passed by the U.S. Senate Tuesday with bipartisan support includes a big boost in spending on renewable energy, the power grid and programs to broadly promote lower greenhouse gas emissions to slow climate change.

The massive bill contains more than $550 billion in new spending. About $110 billion of that is for physical infrastructure such as roads and bridges, the largest share. But the legislation also invests $73 billion to modernize the nation’s aging electricity grid with new transmission lines that could transport renewable energy from sources such as solar and wind to rural communities in an effort to hasten the adoption of cleaner energy sources, a pillar of President Biden’s agenda.

The bill would also invest more than $20...