US allocates $430m for clean energy revival in former coal communities
The US Department of Energy (DoE) on Tuesday announced an investment of $428-million in grants aimed at supporting clean energy manufacturing across 15 coal-affected communities.
The initiative targets 14 projects spearheaded by small- and medium-sized enterprises in regions with decommissioned coal facilities. These projects are set to leverage over $500-million in private-sector investment, projected to create more than 1 900 high-quality jobs.
By tapping the expertise of the former coal workforce, the initiative aims to enhance national security while advancing innovative technologies and revitalising local economies.
“The transition to America’s clean energy future is being shaped by communities filled with the valuable talent and experience that comes from powering our country for decades,” commented Secretary of Energy Jennifer Granholm.
The selected US projects will focus on essential products and materials across five key supply chains: grid components, batteries, low-carbon materials, clean power generation, and energy efficiency products.
The DoE states that the global market for clean energy and carbon reduction technologies is expected to reach $23-trillion by 2030.
By investing in domestic manufacturing, particularly within small and medium-sized businesses that contribute $1-trillion in gross revenue and provide over five-million jobs, the US is building capacity for clean energy production and maximising community benefits.
Globally, governments are increasingly recognising the potential of former coal communities key hubs for the transition to clean energy. By investing in targeted initiatives and funding programmes, they aim to revitalise these regions through the development of renewable-energy projects and clean technology manufacturing.
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