Small Businesses Find Success With Renewable Energy

As of early March, small businesses have been selected to receive nearly $5.4 billion in funding across a number of American Recovery and Reinvestment Act (ARRA)-related programs, including loans, loan guarantees, grants, contracts and tax incentives, in partnership with the U.S. Department of Treasury, according to a new report from the Department of Energy (DOE).

The DOE's report highlights the benefits of ARRA to small businesses throughout the renewable energy industry and environmental management sector. The report highlights 26 small businesses covering a range of clean energy technologies, such as solar, wind and biofuels, along with critical new infrastructure, such as smart grid, advanced batteries, energy storage and energy efficiency tools.

‘Small business are the backbone of job creation in this country and have been a springboard for innovation in the clean energy sector,’ says Energy Secretary Steven Chu. ‘The work these companies do and the innovation they produce will go a long way in helping our economy grow and our nation succeed.’

Among the solar success stories highlighted in the report, the DOE awarded XeroCoat Inc. a $1.36 million grant under the Solar Energy Technologies Program to develop a method for applying its patented anti-reflective coating technology directly onto assembled solar panels. According to the DOE, this research project may not have been possible without the grant. The project has also created about five positions at XeroCoat and provided work for several manufacturers.

SOURCE: U.S. Department of Energy

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