President Obama announces clean energy initiatives

President Obama announces clean energy initiatives.
President Obama announces clean energy initiatives.
President Barack Obama has unveiled approximately $1 billion in Department of Energy (DOE) Initiatives to support innovation within the clean energy industry, the department announced on Monday.

The announcements made today will help spur innovative clean energy technologies that will be central to the president’s Clean Power Plan and combat climate change,” DOE Secretary Ernest Moniz said. “The Clean Power Plan is a tremendous opportunity for American businesses to be global leaders in solar and distributed energy technologies. This will help shepherd in a new era of clean energy jobs and a low-carbon economy that will deliver affordable and reliable power to America’s homes and businesses."

These initiatives are a part of the Clean Power Plan that would allow the DOE's Loan Programs Office (LPO) to allocate up to $1 billion to support commercially viable energy projects that aim to improve energy efficiency or that adopt cleaner energy generation. This can include the installation of solar panels with storage capacity.

In addition to this funding, the DOE is also awarding approximately $24 million into 11 solar energy projects that aim to lower costs associated with solar power use and to improve performance of solar photovoltaic power systems.

According to the announcement distributed energy technologies are able to create economic opportunities and provide solutions to energy issues and concerns for the U.S.

The U.S. Department of Energy (DOE) is a Cabinet-level department of the United States government, concerned with U.S. policies regarding energy and safety in handling nuclear material.

Organizations in this story

US Department of Energy 1000 Independence Avenue Southwest Washington, DC - 20585

Get notified the next time we write about US Department of Energy!