Obama budget proposes major clean energy investments

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By: SGN Staff

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President Obama reaffirmed his continuing support for clean energy in his 2014 fiscal year budget, proposing in some cases major boosts in smart grid-related spending. EVs, solar and wind power, biofuels and energy efficiency incentive programs are among the big beneficiaries in the proposed budget.

 

In the next fiscal year which starts October 1, the proposed budget would increase clean technology investment by 40% over today's numbers – one of the biggest increases in a budget otherwise populated with lots of spending cuts.

 

According to a Reuters news article, the president would pay for part of the investment increases by cutting tax breaks and subsidies for the oil, gas and coal industries. The article also offered the very realistic assessment that the president's budget, as proposed, is very unlikely to get through Congress. Republicans leading the House of Representatives have constantly criticized Obama-led energy initiatives as "wasteful boondoggles" and repeatedly trotted out solar panel company Solyndra and other stimulus grant failures as examples.