Thursday, May 14th, 2009 | Author:

A committee of the U.S. Senate has decided to create a bank under the auspices of the Energy Department to distribute government loans and loan guarantees for projects which promote green energy using advanced technology.

The goal of this initiative is to support technologies that are environmentally friendly which also diversifies the country’s supply of energy and also reduces dangerous carbon emissions.

The Congress will appropriate about $10 billion to this new agency/bank.

The committee is hoping to finish the wording for the energy bill before May 22, the day that the Memorial Day recess begins.

Category: Green Energy
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