Thursday, October 2nd, 2014

Earth, wind and fire

The stimulus bill has billions for alternative energy research, including solar and wind power.
The stimulus bill has billions for alternative energy research, including solar and wind power.

This is one of the more vague promises in our database, but we included it because it established a clear policy direction for Obama's energy agenda. Obviously, this promise does not have any dollar figures attached to it, so in order to fulfill it, Obama needed only to put new money into alternative energy research.

The American Recovery and Reinvestment Act, better known as the $789 billion economic stimulus package, has a lot for alternative energy. At the bill signing on Feb. 17, Obama boasted it "will double the amount of renewable energy produced over the next three years." Of chief interest to most alternative energy companies are measures to create a Clean Energy Finance Authority to provide loan guarantees and other financial support to relieve the credit crunch that has squeezed the industry. In addition, the plan includes renewable tax credits. Together, the White House expects the plan to lead to nearly $100 billion in clean energy projects.

While significant, those programs don't address Obama's promise to increase federal funding for research into alternative energy like solar, wind and biofuels.

But there's money in the stimulus for that as well, so we rated this one a Promise Kept. Click here to read our full report .