President Obama announces $2.4 Billion for electric vehicles
As part of the American Recovery and Reinvestment Act, the U.S. Department of Energy announced the release of two competitive solicitations for up to $2 billion in federal funding for competitively awarded cost-shared agreements for manufacturing of advanced batteries and related drive components as well as up to $400 million for transportation electrification demonstration and deployment projects.
By contributing to the reduction of petroleum use and greenhouse gas emissions, the President hopes these projects will advance the United States' economic recovery, national energy security, and environmental sustainability.
The announcement will also help meet the president's goal of putting one million plug-in hybrid vehicles on the road by 2015.
Related News
Vehicle-to-grid could be ‘capacity on wheels’ for electricity networks
WASHINGTON - “There are already many Gigawatt-hours of batteries on wheels”, which could be used to provide balance and flexibility to electrical grids, if the “ultimate potential” of vehicle-to-grid (V2G) technology could be harnessed.
That’s according to a panel of experts and stakeholders convened by our sister site Current±, which covers the business models and technologies inherent to the low carbon transition to decentralised and clean energy. Focusing mainly on the UK but opening up the conversation to other territories and the technologies themselves, representatives including distribution network operator (DNO) Northern Powergrid’s policy and markets director and Nissan Europe’s director of…
