Today in Cleantech

Vice President Joe Biden and Energy Secretary Steven Chu just finished a Tuesday morning press conference unveiling a White House report on how tens of billions of federal stimulus dollars are expected to boost the nation’s green technology prowess. As you might expect, the report makes some pretty big claims. It projects that Recovery Act spending will help double the nation’s renewable energy generation by 2012 and cut in half the cost of solar power by 2015, to bring it in line with the cost of retail electricity from today’s grid. It can also cut the cost of electric vehicle batteries by 70 percent from 2009 to 2015, to make EVs cost-competitive with their gasoline-fueled counterparts. Now all the White House needs to do is get the money out the door. As Earth2Tech’s Katie Fehrenbacher notes, there’s a Sept. 30 deadline looming for DOE to disburse $36 billion in green tech stimulus; as of a few weeks ago, none of the programs involved had allocated 100 percent of their funding.