Biden Says Country On Track To Double Renewable Energy Capacity

[Turborama]

Source: Reuters

Wednesday, 25 August 2010 5:02AM -

Government stimulus spending has put the country on track to double renewable energy production capacity by 2012 and halve solar power costs by 2015, Vice President Joseph Biden said on Tuesday.

President Barack Obama's stimulus spending poured $814 billion into the U.S. economy, including more than $100 billion for science, technology and innovation projects.

With Energy Secretary Steven Chu by his side, Biden unveiled a new White House report estimating the impact of the Recovery Act funding on American innovation in transportation, renewable energy, broadband, smart electrical grids and medical research.

Biden said the stimulus funding would lead to breakthroughs in many of those areas.

"The government plants the seeds. The private sector nourishes and makes it grow," Biden said. "And in the process, if we're as innovative as we've been in the past, we launch entire new industries."

Read more: http://www.kgmi.com/pages/7998228.php?contentType=4&contentId=6707664

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The report: http://www.whitehouse.gov/the-press-office/2010/08/24/vice-president-biden-releases-report-recovery-act-impact-innovation

[itsrobert]

1. So that's why First Solar and Evergreen is outsourcing their production to China?

Doesn't add up.

[JJW]

2. Believe it or not

This is the same Administration that told us 75% of the BP oil vanished.