$200 million to fund new renewable energy and clean technology institutions
The Obama administration this week has announced that it is committing $200 million in funding that will be focused on renewable energy and clean technology. The funds are to be used to create three new advanced manufacturing innovation institutes. These entities will be focused on the research and development of new renewable energy systems. These systems are meant to make use of innovative technologies that aim to lower the overall costs associated with clean power.
New entities to promote clean technology innovation in manufacturing
These new institutions are part of the federal government’s National Network for Manufacturing Innovation. This initiative exists to promote the use of clean technology and renewable energy in the manufacturing sector. The three new institutions are just the first of many that are expected to take form in the country, depending on whether a new budget proposal receives adequate approval.
Obama administration seeks approval of budget proposal
The Obama administration is seeking to commit $1 billion in funding to the National Network for Manufacturing Innovation. These funds are to be part of the government’s 2014 fiscal budget. These funds would help establish an additional 15 institutions throughout the country that are focused on promoting renewable energy and clean technology throughout the manufacturing sector. This budget proposal has not yet been approved.
Renewable energy gaining more momentum in the US
The U.S. has had a somewhat turbulent history with renewable energy, focusing heavily on fossil-fuels and less expensive, yet environmentally hazardous technologies. In recent years, the federal government has become more interested in renewable energy, supporting the adoption of solar and wind power aggressively. A focus on clean technology is beginning to emerge, as older technologies are beginning to be pushed toward obsolescence. The government believes that the manufacturing sector could benefit from further progress being made in the field of clean technology and this progress could eventually translate into economic gains for companies that have a focus on renewable energy and environmentalism.