President Releases ARRA Funds for Energy

Funding focuses on solar and geothermal energy.

President Obama has released $467 million from the American Reinvestment and Recovery Act to expand and accelerate the development, deployment, and use of geothermal and solar energy throughout the United States. "We have a choice," President Obama said during the announcement. "We can remain the world's leading importer of oil, or we can become the world's leading exporter of clean energy."

 

Recovery Act funding will support projects in four crucial areas: geothermal demonstration projects; enhanced geothermal systems research and development; innovative exploration techniques; and a National Geothermal Data System, Resource Assessment and Classification System.

 

Funding for solar energy projects will focus on supporting the U.S. industry's scaling up of manufacturing, production, and distribution so the technology can become cost competitive with conventional sources of energy. Additionally, funds are used to accelerate widespread commercialization of clean solar energy technologies across America.

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