Dept. of Energy offers $8 billion in climate funding
The Obama administration made a push on its environmental agenda when it was announced that upwards of $8 billion in climate funding will be available to power plants seeking to reduce their emissions.
The Department of Energy will provide the funding to electric facilities that rely on fossil fuel generation which release millions of tons of emissions into the air.
Over 75% over electricity produced in the US comes from fossil fuel burning power plants, making them the largest source of emissions in the country.
President Obama elected to tackle this major source first in his campaign to address climate change.
News of the funding comes after the President released his climate plan which will regulate the amount of emissions allowed from power plants in the coming years.
The funds will be available to a wide range of projects ranging from those that increase efficiency to those that capture and store the carbon emissions released from the plants.
(7/8/13)