US invests $1bn to boost clean energy

The US has announced it will invest more than $1 billion (£0.64bn) to boost the clean energy economy. As part of President Obama’s Clean Power Plan, the Department of Energy […]

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By Jacqueline Echevarria

The US has announced it will invest more than $1 billion (£0.64bn) to boost the clean energy economy.

As part of President Obama’s Clean Power Plan, the Department of Energy (DOE) will use the cash to support energy projects such as solar rooftops and smart grid technology.

DOE, through the Advanced Research Projects Agency–Energy (ARPA-E), is also investing $24 million (£15.3m) in 11 solar power projects.

They are expected to help lower costs and improve solar systems.

The initiatives aim to boost innovation, ensure grid reliability and help the country towards a low carbon future.

US Energy Secretary Ernest Moniz said: “The Clean Power Plan is a tremendous opportunity for American businesses to be global leaders in solar and distributed energy technologies. This will help shepherd in a new era of clean energy jobs and a low carbon economy that will deliver affordable and reliable power to America’s homes and businesses.”