The Obama Administration has announced US$4 billion of private-sector commitments to help fund innovation in clean technologies.
The foundations, family office investors, and institutional investors, which are making the commitments, are launching several clean energy investment alliances that aim to connect would-be investors with clean-energy firms and significantly reduce the transaction costs of investing in new and developing technologies.
The US$2 billion set by the White House earlier this year, comes from hundreds of different organizations.
In order to encourage further private-sector investment in clean energy, the White House is also launching a Clean Energy Impact Investment Center at the U.S. Department of Energy. This aims to make information about energy and climate programs more transparent to the public and investors.
The White House will also aid investments by charitable foundations in clean energy technologies, by releasing new Treasury Department guidance on impact investing and clarifying what is understood by investing for charitable aims.
Furthermore it will improve financing options for private investment funds looking for long-term capital, including early-stage investors in capital-intensive clean energy technologies.