Major investments in renewable energy in the US

By | 2015-10-27

Renewable energy in the US is growing! Ahead of the climate change summit in December, US President, Barack Obama, and his Agriculture Secretary, Tom Vilsack, announced on October 26 new loans and grants for more than 1,100 renewable energy projects.

More precisions on the investments in renewable energy in US

Department of Agriculture (USDA) under the “Rural Energy for America Program” (REAP) is providing loan guarantees of $ 102 million and grants of $ 71 million.

$ 6 million was reserved for 17 biogas projects in California, Maine, Massachusetts, Michigan, New York, North Carolina, Ohio and Washington. Theses 17 projects represent a potential of 906 million kilowatt hours (kWh). This potential is equivalent to the annual electricity consumption of 83,675 homes representing the reduction of 455,000 tons of CO2 eq. per year. This is the equivalent of taking 131,500 cars from circulation.

About the REAP program

Since the election of the Obama administration, the REAP program has funded more than 10,750 renewable energy projects with almost $ 360 million in grants and $ 430 million in secured loans. The program has allowed the reduction of nearly 5 million tonnes of CO2 eq. per year representing the removal of more than one million cars from circulation.

Sources : Herald CourierWashington Examiner