New funding to create more energy-saving business opportunities in the US
The US government has announced renewable energy project incentives worth an estimated $3 billion (£1.8 billion) that are likely to spur more energy-saving business opportunities in the country.
Guidance on what clean energy businesses will need to do to submit a successful application was also published by the departments of energy and treasury.
Around 5,000 bio-mass, solar, wind and other types of renewable energy production facilities are set to benefit from the initiative, which treasury secretary Tim Geithner said is also aimed at building local economies.
"It will provide additional stimulus to economies in urban and rural America by helping to develop domestic sources of clean energy," he explained.
"This partnership between treasury and energy will enable both large companies and small businesses to invest in our long-term energy needs, protect our environment and revitalise our nation's economy.
According to Businessgreen.com, the US renewable energy industry welcomed the development, saying the funds will give a boost to the sector by helping to create more business opportunities and jobs.
