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White House summit details $4bn in clean energy investments

Vice-president Joe Biden has hosted a meeting at the White House to highlight how the Unites States government and private institutional investors are supporting the development of clean energy technologies.

The Clean Energy Investment Summit on 16 June highlighted more than $4 billion in funding commitments from institutional investors, foundations and others for innovative technologies to reduce carbon emissions. The commitments include $500 million each from the University of California and Goldman Sachs. The commitments double the administration’s $2b goal for the Clean Energy Investment Initiative, announced in February.

The administration also announced several initiatives to help make it easier for investors to support new energy technologies. The Department of Energy has created a Clean Energy Impact Investment Center to make information about energy and climate programs at DoE and other government agencies accessible and understandable to the public and investors. The department is also setting up a Small Business Voucher pilot program, which will provide $20m in vouchers to small businesses, which can be redeemed for research projects in collaboration with DoE’s National Labs.

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