Advanced Vehicle Stimulus

Advanced Vehicle Stimulus

By EV World Television

Matt Rogers, the Senior Advisor to U.S. Energy Secretary addressed closing session of Business of Plugging In conference, October 2009.

As Senior Advisor to the U.S. Energy Secretary on the The American Recovery and Reinvestment Act of 2009, it is Matt Roger's responsibility to monitor how effectively the Department's $36.7 billion slice of the bill is being spent to stimulate green tech jobs that will insure America remains competitive in the race to develop advanced vehicles and renewable energy technologies.

In this three-part video, he explains how the department's share of the $787 billion in stimulus spending is being allocated. Here's a short list:

* Funding for 3 electric vehicle factories
* Funding for 20 advanced battery plants
* Funding for 10 electric-drive vehicle component plants

In addition, the DoE funding is facilitating the acquisition of 4,000 electric vehicles, 9,000 alternative fuel vehicles, plus their required support infrastructure. Through a combination of grants, loans and loan guarantees, the Department anticipates leveraging its $36.7 billion into some $100 billion in new technology investments, bringing in private capital "from the sidelines."