A glimpse at President Obama’s recently released 2013-2014 federal budget proposal reveals major steps in funding for energy projects. A sizeable $28.4 billion allocation has been set aside for The Department of Energy discretionary fund, up 8% from last year’s level of funding. This proposed funding initiative has its greatest effect on clean energy, advanced manufacturing, and research and development. Research and development is allocated $2.8 billion, to be administered by the Office of Energy Efficiency and Renewable Energy (EERE). This increase in funding can benefit for-profit companies, nonprofit organizations, local agencies and universities.
Areas receiving increased funding are:
- Development and demonstration of the next generation of advanced vehicles – up 75%
- Next generation of advanced biofuels and biorefineries – up 42%
- Innovative projects to make clean, renewable power, sources more easily integrated – up 29%
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Topics: Barack Obama, Biofuel, Clean Energy, Energy Efficiency, Energy Projects, Federal Budget, Investment Tax Credits, Production Tax Credit, Renewable Energy
Published In: Elections & Politics Updates, Energy & Utilities Updates, Environmental Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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