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President Barack Obama has announced a $467 million boost to speed up the development, deployment and use of solar and geothermal energy.

The funds, which have been allocated from the American Reinvestment and Recovery Act (ARRA), will put $117.6 million into solar energy technology through the Department of Energy.

Investment will be split three ways, with $51.5 million going to support photovoltaic technology development, $25.6 million into concentrating solar power and $40.5 million to aid deployment by addressing issues such as grid connection, market barriers and the training of installers.

The $350 million investment in geothermal technologies dwarfs the support under previous governments. Demonstration projects get $140 million, with a further $80 million going towards researching enhanced geothermal systems and $100 million on exploration techniques. A further $30 million will go towards setting up a national data system of geothermal resources.

“We have an ambitious agenda to put millions of people to work by investing in clean energy technology like solar and geothermal energy,” said Energy Secretary Steven Chu.

“These technologies represent two pieces of a broad energy portfolio that will help us aggressively fight climate change and renew our position as a global leader in clean energy jobs.”

For further information:
www.energy.gov/
www.energy.gov/recovery/funding.htm
www.recovery.gov/