The US Treasury gave another $550 million in stimulus funds for renewable energy this week. This brings the total to over $1 billion.
The announcement about the new disbursements came earlier this week. The money comes from the Department of Energy (DOE). The funds were given to 25 projects as part of the government’s 1603 program. Under this program, “renewable energy projects can apply for direct cash assistance towards up to 30 per cent of the cost of a project in the understanding that they will not then receive existing renewable energy tax credits.”
Some of the top renewable energy developers who received awards (up to $102 million in this group) were First Wind, Horizon Wind and Sun Edison.
The announcement regarding the new funding awards was made on the same day that Obama addressed the United Nations (UN) and said that the US was “fully committed to tackling climate change.”
Leaders from Tony Blair of the UK to major think tanks from nine leading countries are telling us all that a green economy (in environmental terms) equals a green economy (in economic terms). This landmark in renewable energy funding is a sign of hope and leadership in both environmental and economic ways.
More on the Green Economy:
- Green Economy = More Jobs
- 100s of Investors (with $13 Trillion) Demand Strong Climate Deal in Copenhagen
- Green Jobs and Clean Energy: #1 Way to Lead the World
Image Credit 1: Extra Ketchup via flickr under a Creative Commons license
Image Credit 2: jasohill via flickr under a Creative Commons license
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