The President has put in a request for 29.5 bil budget request for the DOE and EERE(Energy Efficiency and Renewable Energy) program. This increase would strengthen renewable energy resources, boost clean energy research, and cut expenses to pursue the goal of 80% clean energy sources by 2035. The budget includes large increases for EERE programs including, 135% increase for geothermal technology, 115% increase for building technologies, 88% increase for solar energy, and a 61% increase for wind. The weatherization spending would increase by 52%. The new budget would also promote renewable energy and energy efficient with $300 million in credit subsidies.
The president also set a new initiative to cut energy use by 20% in commercial buildings by 2020. In order to fund these changes he is suggesting a series of incentives that will encourage private sector investment. Additionally, it launches DOE’s “Race to Green” grant competition program to provide retrofit loan guarantees that will focus on universities and hospitals. furthermore there will be a larger tax incentive for retro-fitting.
If this passes it could help get you funding for retro-fitting your business, but this budget is still subject to congressional approval.
The House of Representatives are proposing some large cuts throughout the government in order to reducing spending. Some of these cuts include a $899 Mil cut to Energy Efficiency and Renewable Energy, $1.6 B cut to the EPA, $1.4 B to the Loan Guarantee Authority, and $7.4 Mil cut to EPA Energy Star Program, as well as many others. What these cuts will mean to us is still to be determined, but it may undermine some of these funding increases to help retro-fitting.