The Obama administration's campaign to convince the world that the US is doing all it can to curb carbon emissions received a boost this week with the announcement that the Department of Energy has awarded a further $550m in Federal grants to renewable energy projects.
The new funding, which takes the total stimulus funding dished out to the renewables sector over $1bn, was awarded to 25 projects as part of the government's 1603 programme.
Under the scheme, renewable energy projects can apply for direct cash assistance towards up to 30 per cent of the cost of a project in the understanding that they will not then receive existing renewable energy tax credits.
Treasury Secretary Tim Geithner said that the latest funding, which follows an earlier $502m, would serve to cut emissions, create jobs and " jumpstart" private sector investment in the sector, while also enabling construction work to get under way immediately.
A number of high profile renewable energy developers were among those celebrating awards of up to $120m, including First Wind, Horizon Wind and Sun Edison.
The funding was announced on the same day as President Obama told a meeting of the UN that the US was fully committed to tackling climate change and had " done more to promote clean energy and reduce carbon pollution in the last eight months than at any other time in our history".
However, the speech was criticised by many green groups for failing to provide the fresh commitments that many observers believe are essential to deliver new impetus to the long-running international talks to agree a successor to the Kyoto Treaty.
Observers likely to be left cold, as addresses to UN fail to deliver detailed new proposals on how to break Copenhagen deadlock 22 Sep 2009
China announces it will set a carbon-intensity target, but opinion divided on whether UN talks represent a major breakthrough 23 Sep 2009
US insists that demands for emission cuts of between 25 and 40 per cent by 2020 remain unrealistic 01 Jun 2009
Group of investors with assets worth more than $13 trillion call for robust Copenhagen deal 17 Sep 2009
President expected to announce up to $3.4bn in smart-grid grants as Department of Energy releases fresh climate science funding 27 Oct 2009
Desert tortoise fears allayed? 19 Mar 2010
Cameron presents pre-election energy policy, promising greater investment certainty for low-carbon projects, green loans for households, and streamlining of planning system 19 Mar 2010
Joint statement from carbon exchange and Hungarian government aims to restore confidence in CER market 19 Mar 2010
More news
From climate change contrarians to the "KitKatastrophe" of Nestle's palm oil policy, we look at the best the green web has to offer this week 19 Mar 2010
"It needs the political enthusiasm that was behind the war on terror after 9/11" 19 Mar 2010
From the government's plans for a marine energy revolution to John Lewis' proposals for an off-grid supermarket 19 Mar 2010 More in-depth
Post your comment
Send an email to the Business Green editor at feedback@businessgreen.com
