Caspian Energy Journal Caspian European Club
Tuesday, 25 August 2015 18:30

More than a billion dollars to advance innovative clean energy technologies

President Obama announced on Monday more than one billion dollars in Department of Energy (DOE) initiatives to drive innovation and accelerate the clean energy economy, Caspian Energy News ( reports with reference to the statement of U.S. Department of Energy.

As part of the President’s Clean Power Plan, DOE’s Loan Programs Office (LPO) is making up to one billion dollars in loan guarantees available to support commercial-scale distributed energy projects, such as rooftop solar with storage and smart grid technology. In addition, through the Advanced Research Projects Agency–Energy (ARPA-E), DOE is awarding $24 million in funding for 11 high-performance solar power projects that could lower the cost and improve the performance of solar photovoltaic (PV) power systems. Together, these initiatives will spur innovation, ensure grid reliability and help ensure America’s low-carbon energy future.

“The announcements made today will help spur innovative clean energy technologies that will be central to the president’s Clean Power Plan and combat climate change,” said Secretary Moniz. “The Clean Power Plan is a tremendous opportunity for American businesses to be global leaders in solar and distributed energy technologies. This will help shepherd in a new era of clean energy jobs and a low-carbon economy that will deliver affordable and reliable power to America’s homes and businesses.”

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