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With $4 billion and a new government office, the White House has unveiled its latest clean energy initiative and cast a subtle new role for the federal government: not only is it a funder of new research, of the latest solar converter or biofuel source, but it is also a market builder.
Ernest Moniz, US secretary of energy, said at a press conference on Monday, “One of the real challenges is the gap in financing clean energy. There is a continuing need for new capital investment.”
The new initiative follows on a White House pledge in February to organize mission-driven renewable energy investors, concentrating their impacts and providing information to would-be investors daunted by an unfamiliar clean-energy landscape.
At the press conference on Monday, Moniz and senior advisor Brian Deese fleshed out the details: $4 billion in commitments from pension funds, family foundations and other so-called impact investors, and a newly unveiled office of technology transitions that will serve as an all-purpose informational resource for clean-energy investment.
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