09 Sep '11, 1pm

DOE Invests $90 Million in Offshore Wind, Geothermal, Electric Vehicles - SustainableBusiness.com

The US Department of Energy (DOE) announced more than $90 million in awards to spur development of offshore wind, geothermal and adoption of electric vehicles. $43 million is earmarked for 41 offshore wind projects in 20 states over the next five years to speed technical innovations, lower costs, and shorten the timeline for deploying wind farms at sea. 19 projects will receive $26.5 million to address technical challenges with a goal of improving the cost-competitiveness of the US offshore wind industry. Projects include research and development on key components, such as floating support structures and turbine rotor and control subsystems, that could lead to capital cost reductions of up to 50%, DOE says. 22 so-called "market barrier removal projects" will receive $16.5 million to research factors limiting deployment of offshore wind in the nation’s coastal and Great Lak...

Full article: http://www.sustainablebusiness.com/index.cfm/go/news.disp...

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