Obama Announces $467 Million In Funding For Solar And Geothermal Projects


Over $467 million from the American Reinvestment and Recovery Act (ARRA) will be provided to expand and accelerate the development, deployment and use of geothermal and solar energy throughout the U.S.

The funding represents a substantial down payment that will help the solar and geothermal industries overcome technical barriers, demonstrate new technologies and provide support for clean energy jobs for years to come, according to President Obama and the Department of Energy (DOE).

‘We have an ambitious agenda to put millions of people to work by investing in clean energy technology like solar and geothermal energy,’ Energy Secretary Steven Chu says. ‘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.’

DOE will provide $117.6 million in ARRA funding to accelerate widespread commercialization of solar energy technologies across America. Allocations include $51.5 million for photovoltaic technology development, $40.5 million for solar energy deployment, and $25.6 million for concentrating solar power research and development.

SOURCE: U.S. Department of Energy

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