The U.S. today announced $4 billion funding for clean energy at the Clean Energy Investment Summit at the White House.
The proposed $4 billion funding will be from major foundations, institutional investors, and others to fund innovative solutions to help fight climate change, including technologies with breakthrough potential to reduce carbon pollution.
“Taken together, these commitments far surpass the initial $2 billion goal set at the launch of the Administration’s Clean Energy Investment Initiative last February. And we look forward to seeing this initiative continue to build momentum in the months ahead,” said Secretary Ernest Moniz, in a blog post today.
New initiatives for green energy
# Launching a new Clean Energy Impact Investment Center at the U.S. Department of Energy (DOE) to make information about energy and climate programs at DOE and other government agencies accessible and more understandable to the public, including to mission-driven investors
# Facilitating Issuing guidance on impact investments by charitable foundations in clean energy technologies and other potentially mission-aligned sectors
# Improving financing options from the U.S. Small Business Administration for private investment funds seeking long-term capital.
“We’ve seen advances in solar photovoltaics, wind power, advanced batteries, energy-efficient lighting, and fuel cells – and the cost of solar energy systems has plummeted by over 50 percent in the past five years alone,” said Ernest Moniz.
Rajani Baburajan
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