Obama Budget Includes Support For Cleantech

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.


In Depth

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.