President Barack Obama announced Wednesday the availability of over $467 million from the stimulus package for two Recovery Act energy programs on the 100 days anniversary since the President signed the American Reinvestment and Recovery Act.
Obama announced his administration will invest in two programs for the development and deployment of solar energy and geothermal energy technologies across the country, during remarks at the Nellis Air Force Base in Las Vegas, Nevada.
The base gets 25 percent of its power by a solar energy system consisting of more than 72,000 solar panels which the President toured today. It is America's largest solar photovoltaic array.
The program we're announcing ... is something that we expect will create more jobs, it will create more businesses, and more affordable electricity for the American people, Obama said, adding the programs are expected to contribute to double the nation's capacity to generate renewable energy by the end of the next two years.
We've got a choice, we can remain the world’s leading importing of oil sending our money and our wealth away or we can become a world's leading exporter of clean energy, Obama said Wednesday.
The Recovery Act makes a $350 million new investment in geothermal technologies allocated as follows:
$140 million for Geothermal Demonstration Projects
$80 million for Enhanced Geothermal Systems Technology Research and Development
$100 million for Innovative Exploration Techniques
$30 million for National Geothermal Data System, Resource Assessment, and Classification System
Solar energy technologies will be granted $117.6 million in Recovery Act funding as follows:
$51.5 million for Photovoltaic Technology Development
$40.5 million for Solar Energy Deployment
$25.6 million for Concentrating Solar Power Research and Development
The funding will be managed through the Department of Energy.
These technologies represent two pieces of a broad energy portfolio that will help us aggressively fight climate change and renew our position as a global leader in clean energy jobs, Energy Secretary Steven Chu said in a statement today.