Cleantech Update

AltaRock Energy , which received $6.25 million from the U.S. Department of Energy for the first demonstration project of enhanced geothermal energy, is facing major delays according to an article by James Glanz of the New York Times. Unidentified scientists told the New York Times that after two months of drilling the company has only reached a depth of 4000 feet. AltaRock started drilling at 3200 feet, the bottom of one of the older holes at The Geysers in Northern California. According to the New York Times, the drill bit snapped off at least once and the company has had to start drilling the hole again. AltaRock originally expected to reach a final depth of 12,000 feet after 50 days of drilling. Enhanced geothermal energy appears to hold great promise for replacing electric power plants run on fossil fuels. It is, however, not without problems. The initial investment needed to develop enhanced geothermal is steep. In addition, technological advances are needed for development...

August 2009 U.S. Department of the Treasury and Department of Energy to make Direct Cash Payments for Businesses Developing Renewable Energy Facilities- The U.S. government announced Friday that it is now accepting applications for renewable energy funding lead by President Barack Obama ’s initiative to expand nationwide sustainability and green energy job prospects. The U.S. Department of Energy , along with the U.S. Department of the Treasury will be allocating direct payments in place of tax credits to companies that establish and develop renewable energy facilities; funding to the sum of roughly $3 billion for approximately 5,000 generation plants producing varying sources of renewable energy . Secretary Steven Chu states, “This program will play a major role in encouraging private sector capital to invest in clean energy development, creating new jobs that can’t be outsourced. It is an investment that will continue to help our economy grow and ensure advancement in clean and ren...

DOE issued solicitations in late June for $3.9 billion in grants to support the development and demonstration of smart grid technologies. Smart grid technologies involve adding communication capabilities and control systems to the electrical grid. Just as the Internet drastically changed how people use their home computers, adding communications to the power grid is expected to change how people use electricity, resulting in improved home energy management for the homeowner, greater demand control for the utility, and a more reliable power grid overall. Smart grids are also expected to better accommodate the use of renewable energy, all forms of on-site power production, and electric vehicles. DOE's new solicitations include a $3.3 billion Funding Opportunity Announcement (FOA) for the Smart Grid Investment Grant Program , which is intended to enable smart grid functions on the nation's electrical grid as soon as possible. The cost-shared grants will support the manufacturing, ...