First Program of Its Kind in the Banking Industry Fosters Early Stage Clean Energy Technologies
November 11, 2014
Wells Fargo has launched its Innovation Incubator (IN2) program, a $10 million grant for clean technology startups funded by the Wells Fargo Foundation and co-administered by the U.S. Department of Energy’s (DOE’s) National Renewable Energy Laboratory (NREL) to foster the development of early stage clean technologies for commercial buildings.
The U.S. Department of Energy’s (DOE’s) Office of Energy Efficiency and Renewable Energy has announced new funding totaling nearly $11 million to help small businesses in nine states develop new ideas to boost energy efficiency, cut carbon pollution, and reduce U.S. reliance on imported oil.
While progress is being made on renewable energy, most clean energy technologies are not being deployed very quickly, according to a report from the International Energy Agency (IEA). The report notes that many technologies with great potential for energy and emissions savings are making halting progress at best.