The White House on Tuesday unveiled a report showing large federal investments in renewable energy are putting the U.S. on track to lower the cost for generating solar power, creating batteries for electric cars and sequencing the human genome over the next several years.
The report, to be unveiled formally by Vice President Joe Biden and Energy Secretary Steven Chu at a briefing, shows that overall the U.S. is on track to double U.S. renewable energy generation capacity and U.S. renewable manufacturing capacity by 2012.
The Obama administration is investing US$100 billion in science and technology projects as part of the Recovery Act passed last year. Such investments include projects to build electric vehicles, expand broadband access and form health information technology.
President Barack Obama and Biden have said the investments are part of a plan to transform the U.S. economy to lead renewable energy manufacturing, which they believe is the wave of the future.
Obama and Biden have traveled the U.S. during the summer touting the administration's efforts to stimulate the economy while at the same time facing criticism that the spending hasn't created enough jobs or lifted the country from economic malaise.