Sunday, 1 February 2015
Last updated 1 day ago
Feb 27 2009 | 12:52am ET
If his wish comes true – read: if his 2010 budget is approved as drafted – U.S. President Barack Obama will provide significant funding to cleantech, chiefly through the Department of Energy (DoE), but also through a number of other government agencies.
According to budget documents released by the Office of Management and Budget, the DoE will receive $26.3 billion to fund clean energy initiatives, including funds for a “smart power grid” project. The proposed DoE budget also includes funds for loan guarantees for energy efficiency programs and deploying new clean technologies.
The budget earmarks $26 billion for the Department of Agriculture, including $250 million in loans and grants for the production of renewable fuels.
NASA is to receive $18.7 billion to fund the development of a space-based climate research and monitoring system.
The $7 billion allotted to the National Science Foundation is to be used to establish a climate change education program to foster environmentally engaged scientists and engineers. It will also offer increased funding for high-risk research proposals that could lead to radically new technologies.
The Department of Transportation is to receive $72.5 billion, including a five-year, $5 billion, state grant program for high-speed rail.
The Department of the Interior’s proposed $12 billion budget will include over $50 million to conduct environmental evaluations and technical studies to spur development of renewable energy projects, assess available alternative resources, and reduce the impact of development on federal lands and waters.
Finally, the Department of Housing and Urban Development will receive $47.5 billion to create an Energy Innovation Fund to support energy-efficient housing – including retrofitting older homes – and catalyze private-sector lending in the residential sector.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…