Obama seeks $2 billion in private dollars for clean energy

President Barack Obama is setting a goal of raising $2 billion from the private sector for investments in clean energy.

The White House says it's launching a Clean Energy Investment Initiative as part of the Obama administration's effort to address .

The Energy Department will solicit investments from philanthropists and investors concerned about climate change. The aim is to spur development of technologies and energy sources that are low in carbon dioxide pollution, such as solar panels, wind power, fuel cells and advanced batteries.

The White House says groups like Wells Fargo, the University of California Board of Regents, and the William and Flora Hewlett Foundation are committing to scale up their investments in .

The White House will also host a Clean Energy Investment Summit this spring.

© 2015 The Associated Press. All rights reserved.

Citation: Obama seeks $2 billion in private dollars for clean energy (2015, February 10) retrieved 16 July 2024 from https://phys.org/news/2015-02-obama-billion-private-dollars-energy.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.

Explore further

Calif. teachers fund to boost clean energy bets

19 shares

Feedback to editors