Obama Announces $467 Million For Energy Programs

From CleanTechBrief.com

U.S. President Barack Obama on Wednesday announced the availability of $467 million in stimulus program funding for two alternative energy programs.

Money from the American Reinvestment and Recovery Act will fund the development and deployment of solar energy and geothermal energy technologies across the country. The president made the announcement at Nellis Air Force Base in Las Vegas, Nevada, exactly 100 days after the signing of the stimulus package.

The base is home to America’s largest solar photovoltaic array, with over 72,000 solar panels providing 25% of its power.

“The program we’re announcing … is something that we expect will create more jobs, it will create more businesses, and more affordable electricity for the American people,” said Obama.

“We’ve got a choice, we can remain the world’s leading importing of oil sending our money and our wealth away or we can become a world’s leading exporter of clean energy.”

The Recovery Act allots $350 million for new investment in geothermal technologies, which breaks down as follows:

* $140 million for geothermal demonstration projects
* $80 million for enhanced geothermal systems technology research and development
* $100 million for innovative exploration techniques
* $30 million for the National Geothermal Data System, Resource Assessment, and Classification System

Another $117.6 million has been earmarked for solar energy technologies, as follows:

* $51.5 million for photovoltaic technology development
* $40.5 million for solar energy deployment
* $25.6 million for concentrating solar power research and development

The funding will be managed through the Department of Energy.

“These technologies represent two pieces of a broad energy portfolio that will help us aggressively fight climate change and renew our position as a global leader in clean energy jobs,” Energy Secretary Steven Chu said in a statement.