Department of Energy commits $2 Billion for Solar
In Sunday's Presidential radio address Obama announced that the US Department of Energy would commit $2 billion to two solar companies in an ongoing effort to build a clean energy economy. The hopes is that the solar stimulus will create thousands of jobs.
The bulk of the funds will go to Abengoa Solar to build the world's largest solar power plant in Arizona. This plant will be the first large scale solar project in the US that will be capable of storing its energy for future use. The 280-MW station is expected to create over 1,600 construction jobs , supply electric power to 70,000 homes as well as cut carbon emissions.
$400 million will be given to Abound Solar Manufacturing for two solar projects to be based in Colorado and Indiana. While the Colorado plant is currently in operation, the Indiana plant will be built in an empty Chrysler factory. Around 840 MW worth of solar panels are likely to be manufactured at these plants and employment to over 2000 construction workers and 1,500 jobs are anticipated.
Obama said that the projects would help to accelerate the economic revival by doubling the use of renewable energy sources such as wind and solar power and thereby create local employment and give hope to the people of America.
A next generation wind turbine design offers the possibilty of generating up to three times the power from the current wind turbine design.
Read More
Exxon is planning a $600 million investment in biofuel through a strategic partnership with Synthetic Genomics to develop transportation fuels from algae.
Read More
T Boone Pickens scaled back his massive plans for a West Texas wind farm and will look to place wind turbins in other places in lesser quantities.
Read More
Congress is to open debate on a "clean energy" bill this week. Pressure has been steadily mounting from the Obama administration to show the world that Washington is serious about making a difference against global warming, .
Read More
The US and Canada have agreed to team up new energy technologies to fight global warming, saying it was key to recovery from global recession.
Read More