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US DOE announces new clean energy initiatives

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Hydrocarbon Engineering,

The US Department of Energy has announced several new and expanding initiatives as part of the Administration’s Clean Energy Investment Summit, including the launch of a Clean Energy Impact Investment Centre (CEII), which will work to make the Department’s resources more readily available to the public, as well as mission driven investors.

Clean energy finance is a key part of the solution set on climate change. The announcement builds off the Clean Energy Investment Initiative that was announced by Senior Advisor Brian Deese at the ARPA-E Summit in February 2015, highlighting expanded private sector investment in solutions to climate change, including innovative technologies with breakthrough potential to reduce carbon pollution.

“The US and other countries are providing substantial financial support to the development and commercialisation of clean energy technologies but, if we are to achieve our climate goals, it is imperative that we find ways to incentivise the global capital markets to invest in clean energy,” said Energy Secretary Ernest Moniz. “The US government is addressing the need for new financing through a variety of programmes that support clean energy technology through the research and development, demonstration, and deployment stages.”

The CEII centre will provide technical assistance, a single point of access for information, connections to other relevant government programmes across the Administration, and consolidate public information on early stage projects and companies that are currently engaged in partnerships with DOE. Moving forward, DOE will work to mobilise a broad range of philanthropists and impact investors to scale up investments throughout the energy innovation pipeline, from laboratory R&D to start up funding to growth stage financing.

Adapted from press release by Rosalie Starling

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