US Secretary of Energy Ernest Moniz was pleased to announce today that the White House exceeded its expectations in securing funding for its Clean Energy Investment Initiative.
At least $4 billion in independent commitments was raised from institutional investors, large foundations, and others to help climate change and reduce carbon pollution. The funds bypass the initial goal of $2 billion set last February at by the Administration.
Additionally, the Administration announced other executive actions to encourage further private investment in clean energy.
First, the launching of a new Clean Energy Impact Investment Center at the Department of Energy (DOE). To goal is to make information about energy programs accessible and understandable to the public and future investors.
Second, facilitating issuing guidance on impact investments by charitable organizations in clean energy technologies.
Lastly, better financing available from the Small Business Administration (SBA) for private investment funds seeking long-term capital.
According to the White House senior adviser Brian Deese, encouraging private investment in clean energy is part of President Barack Obama’s attempt to promote “a low-carbon energy future.”