Department of Energy to provide $4 billion in energy-efficient funding

The Obama administration will soon be allocating a major amount of federal funding for projects that intend to curb the amount of greenhouse gases that are released into the environment. The U.S. Department of Energy (DOE) announced on Tuesday, April 15, that it will be taking meetings with members of the public for the next month to hear proposals of green energy projects that need money to be started.

The DOE has allocated $4 billion for the purpose of funding these nationwide initiatives and those who are chosen to receive these federal loans will be notified sometime in the summer. This project is part of President Obama's broader commitment to aggressive climate policy, as one of his major goals for his second term is to reduce the amount of energy the country consumes.

The last time the DOE opened up its funds to be used by the public was in 2011. The department is particularly interested in projects that will help successfully integrate renewable sources of energy to existing electric grids, as well as the creation of biofuels from materials that would otherwise go to waste.

"Through our existing renewable energy loan guarantees, the Department's Loan Programs Office helped launch the U.S. utility-scale solar industry and other clean energy technologies that are now contributing to our clean energy portfolio," Energy Secretary Ernest Moniz said at a policy forum on Wednesday.

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