When it comes to green stimulus, the world is nearly halfway done. That’s according to a report out this morning from Bloomberg New Energy Finance (PDF), which says that of the nearly $200 billion in green stimulus promised by major economies around the globe in 2008, some $94.8 billion has been promised or put to use. Of that amount, the majority — $74.5 billion — was spent last year, BNEF said. It’s taken awhile for some green stimulus funds to get out the door — not surprising, considering the need for due diligence. Still, there have been some concerns that parties like the U.S. Department of Energy haven’t been moving fast enough. In August 2010, the DOE’s office of the inspector general found that only 8.4 percent of the $3.2 billion in state energy efficiency block grants had been disbursed, creating only 2,300 jobs, and in November, a leaked White House memo revealed concerns in the Obama Administration about the slow pace of loan guarantees for renewable energy projects. Since then, DOE has made some changes to the way it gives out loans and other stimulus-backed funds. As of September, DOE had obligated all but $1 billion of $32.7 billion in green stimulus grants and contracts, and while it had only spent $7.3 billion, Matt Rogers, former DOE stimulus program chief, said it would be spending about $1 billion a month over the next 18 months. Sounds like there’s plenty more green to go around.
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