If the aim was really to stimulate recovery of the private sector, the most effective way of doing that would have been to leave the money in the private sector.
What really matters to create a new clean energy economy and stimulate private investment in the near-term are policy regimes that employ direct and targeted public investments to cover the cost gap between higher-cost clean energy and fossil fuels.
The idea behind this, roughly similar to the Carney argument for a nominal GDP target, is that the only way to stimulate activity, in a deeply deflationary environment is to convince people and businesses that you really will spend whatever it takes to ensure that prices and nominal demand will be higher next year than they are today.