President Obama’s 2011 State of the Union address declared this “our generation’s Sputnik moment” before going on to set a goal for the nation to derive 80 percent of its electricity from clean energy by 2035. In February, Obama submitted a 2012 spending request for the Department of Energy (DOE) that increased spending on renewable energy–including solar, biomass and geothermal projects–while cutting fossil energy programs.
Despite White House support, the renewable energy industry still faces challenges. Financing is scarce, a result of the still-recovering markets, the relatively low recent prices of traditional fossil fuels and the lack of a price on carbon emissions. Meanwhile, the DOE budget proposal faces political attacks.
