Obama administration announces new funding and initiatives for renewable energy projects

Facebook
Twitter
LinkedIn
Reddit
Email
The Obama administration is continuing a last-ditch push for renewables. Source: Flickr/White House

The Obama administration is continuing a last-ditch push for renewables with the announcement of international clean energy funding and initiatives along with a host of new incentives and international agreements that do not require Congress’ consent.

With the future of existing climate regulations such as the Paris Agreement and Clean Power Plan in the lurch under President-elect Trump, the administration is embarking on the wrap-up of climate-related incentives

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

New financing for global renewable energy projects

In collaboration with the administration, OPIC is announcing US$125 million in new funding that will include US$50 million towards eight utility-scale solar PV projectse in El Salvador and US$74 million for a utility-scale solar project in Telangana, India.

In addition to the OPIC funding, a United States-India clean energy finance facility will be created; and will formally launch a US$20 million distributed solar facility. It will aid in funding early-stage project preparatory work. 

Low-cost initiatives

After Mission Innovation (MI) was launched at COP21 last year, the administration is nurturing the next phase by welcoming Finland and the Netherlands as new MI members at COP22. Furthermore, seven ‘Innovation Challenges’ that will allow members to accelerate de-carbonisation have been announced; including off-grid, smart grid and carbon capture initiatives.

US energy secretary Ernest Moniz also announced that the US will lead a challenge focused on zero emissions for fossil fuels through the carbon capture Innovation Challenge. It will also co-lead the challenge for low-cost clean energy materials together with Mexico.

To further drive clean energy innovation, the administration is also facilitating connections between leading clean energy investors and clean energy entrepreneurs. To this end, USAID and the Department of State are announcing a partnership with the National Renewable Energy Laboratory (NREL) to secure a pipeline of clean energy entrepreneurs so they can be linked with investors. In addition, the Department of Energy is continuing to engage the private sector. 

Increasing access to clean energy

The last part of the announcement entails designs to broaden access to clean electricity globally; by advancing initiatives and organisations that the US created or partnered on for this purpose.

For example, the administration plans to expand Power Africa’s Scaling Off-Grid challenge – which currently seeks to invest US$36 million for electricity access in Sub-Saharan Africa. To achieve this, Microsoft, Acumen Fund, and the United Nations Foundation joined the Scaling Off-Grid Energy Grand Challenge for Development and committed to leveraging their investments, capabilities, and networks.

The administration is also aiming to increase access to high-quality, efficient off-grid technologies, which are particularly useful in developing countries through various incentives and partnerships. It will also sign a memorandum of understanding at the Marrakesh climate meeting with Morocco regarding a 2019 university project on solar power.  

7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

September 17, 2025
US renewables developer Longroad Energy has reached financial close for its 400MW 1000 Mile solar project in the US state of Texas.
September 17, 2025
Spanish renewables developer and operator Acciona Energía has commissioned its 412MWp Juna solar PV plant in Kawani village in the western state of Rajasthan. 
September 17, 2025
Nexamp has secured US$350 million through a long-term financing facility to expand its 6GW utility-scale solar and battery storage pipeline in the US. 
September 17, 2025
The California State Legislature has passed two bills that aim to reduce energy prices in the state, AB 825 and SB 302.
September 17, 2025
QatarEnergy has signed an EPC agreement with Samsung C&T for its 2GW Dukhan project. 
Premium
September 17, 2025
PV CellTech: Martin Pochtaruk, CEO of North American solar module manufacturer Heliene, says US producers must learn to survive without tax incentives.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA