The Energy Department Just Announced $4 Billion For Projects That Fight Global Warming

[Rhiannon12866]

The U.S. Department of Energy on Thursday announced that it is issuing a loan guarantee program of up to $4 billion to support innovative renewable energy and energy efficiency projects that avoid, reduce, or sequester greenhouse gas emissions.

In support of the Obama administration’s Climate Action Plan, the DOE identified five key technology areas for the loan program to support. One is advanced grid integration and storage, which essentially means technologies that better support renewable power on the electric grid. Another is drop-in biofuels, which are biofuels that can be used in existing infrastructure.

The DOE also said the program would consider supporting waste-to-energy projects, energy efficiency improvement projects, and projects that would enhance existing hydroelectric facilities.

“As the President emphasized in his Climate Action Plan, it is critical that we take an all-of-the above approach to energy in order to cut carbon pollution, help address the effects of climate change and protect our children’s future,” said DOE Secretary Ernest Moniz in a statement. “Investments in clean, low-carbon energy also provide an economic opportunity.”

http://thinkprogress.org/climate/2014/07/03/3456541/doe-loan-guarantee-program/

[Joe Shlabotnik]

1. good.

4 billion is a good chunk of change. I just hope it isn't siphoned off by administrators, the way that neoliberal and well-connected insiders end up gaming the system.

[blkmusclmachine]

2. Way too little, and way too late

[littlemissmartypants]

3. Something tells me that this money

Has already been spent.