Tuesday, March 24, 2009

Obama Describes Clean Energy Plans at White House

President Obama plans to spend about $59 billion out of the $787 billion economic stimulus funds (American Recovery and Reinvestment Act-ARRA) and $150 billion from the $3.55 trillion FY 2010 federal budget to promote America's "clean-energy future." He said his plan will create more than 300,000 jobs and double the nation's supply of renewable energy. The FY 2010 budget includes nearly $75 billion to make permanent a tax credit aimed at stimulating private-sector investment in research and development. ARRA includes $39 billion for projects at the Energy Department and $20 billion in tax incentives for clean energy.

The funding is intended to create an advanced research agency for energy modeled on the Defense Advanced Research Projects Agency, which developed the Internet, and to support Energy Frontier Research Centers, which could lead to breakthroughs in energy storage, super-efficient engines and inexpensive solar cells. The stimulus plan will also support U.S. manufacturing of advanced batteries needed for plug-in hybrids, renewable energy backup and other applications. About $1.2 billion is destined for "research infrastructure" at the Energy Department's national laboratories. (Wash Post, 3/24/09, The White House, White House Photo: Lawrence Jackson)

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