According to the Huffington Post, the Department of Energy has announced plans to allocate $4 billion towards the fight against climate change. In a statement, Energy Secretary Ernest Moniz said:
“As the President emphasized in his Climate Action Plan, it is critical that we take an all-of-the above approach to energy in order to cut carbon pollution, help address the effects of climate change and protect our children’s future. Investments in clean, low-carbon energy also provide an economic opportunity. Through previous loan guarantees and other investments, the Department is already helping launch or jumpstart entire industries in the U.S., from utility-scale wind and solar to nuclear and lower-carbon fossil energy. Today’s announcement will help build on and accelerate that success.”
The Department highlighted several key technologies it anticipates will receive loans, including hydroelectric dams and drop-in biofuels. Earlier this week, Climate Central reported that June was the third month in a row where carbon dioxide levels in our atmosphere topped an average of 400 parts per million. This is the longest amount of time in recorded history that CO2 levels have been this high.