Green Technology Government Grants
Green technology uses renewable energy sources, such as wind, solar and water in the place of fossil fuel materials. Renewable energy sources use natural materials that provide economical and environmentally sustainable methods for power generation. Government grant offers help to promote green technology systems as alternative energy sources within the heating, cooling and power plant industries.
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Green Technology
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Fossil fuels originate in the deep layers of the Earth and require elaborate systems for extracting these materials and processing them into usable forms. As a result, systems that rely on oil, coal and natural gas are costly in terms of supplying the raw materials needed to run them. When burned, the carbon emissions produced by fossil fuels pose serious risks to the health of the environment. According to the ABS Renewable Energy Information Library, green technology systems draw upon natural energy sources that are available on a continuous basis and produce non-hazardous emissions. Government grants provide a financial incentive for businesses, individuals and local governments to implement green technology systems as alternatives to fossil fuel-based systems.
Energy Efficiency and Conservation Block Grant Program
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The U.S. government promotes green technology systems within local communities through the Energy Efficiency and Conservation Block Grant program, or EECBG program, The American Recovery and Reinvestment Act of 2009, or Stimulus Bill, created the EECBG program. Program grants are administered through the U.S. Department of Energy and are designed to help local communities implement green technology systems within their building and transportation sectors. Grants awards support projects that use solar, geothermal or hydrogen energy sources.
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Recovery & Reinvestment Grants
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The American Recovery & Reinvestment Act administers a second category of green technology grants through the Department of Treasury. These grants provide financial assistance for new building construction projects that include green technology systems, according to the Database of State Incentives for Renewables & Efficiency. Grant award amounts pay for up to 30 percent of the purchase and installation cost for a new system. Eligible projects include those that use solar-powered technologies for heating, cooling or electricity generation, geothermal technologies for heating systems and wind turbine technologies for electricity generation.
Rural Energy for America Program
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The Rural Energy for America Program, or REAP, offers green technology grants to rural-based farming operations and small businesses. REAP grants are administered through the U.S. Department of Agriculture. Eligible applicants include farming businesses with fewer than 15 employees and small rural businesses with fewer than 500 employees. Eligible projects include systems that use solar energy, wind or biomass technologies to power a business' daily production processes, according to the Department of Agriculture. Grant monies provide for installation costs and technical assistance services.
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References
- Database of State Incentives for Renewables & Efficiency: Renewable Energy Grants
- U.S. Department of Agriculture: Renewable Energy Grant Overview
- ABS Renewable Energy Information Library: Alternative Energy Information
- U.S. Department of Energy: Energy Efficiency and Conservation Block Grant Program
