Steven Chu, President Obama’s Energy Secretary, has been making the case for a modest 2.3% increase in the renewables investment, reportsRenewables Biz
. This would bring the total spend to USD$27 billion, of which $60 million has been earmarked for researching and expanding the uses of energy storage systems. The money would be in addition to $185 million given to 16 different storage projects via the 2009 stimulus plan.
Is this sort of spending a good deal for the US taxpayer? Although not directly related to energy storage, some Department of Energy figures, as reported in GreenTech Media, suggest it is; the Government says every tax dollar invested in solar projects attracts 20 more in private money. If true, then surely this is the sort of market distortion most of us can live with.