The $111 billion the Obama Administration has set aside for clean-tech projects and companies will boost the industry and accelerate innovation in the U.S., according to a survey of business leaders.
The study by Deloitte found that 70 percent of clean tech company leaders believe the stimulus funding will provide an advantage to the industry as it competes with Asian and European rivals.
The Deloitte study found 70 percent of clean tech companies believe the money will give the industry an advantage, says Director Brian Goncher
And yet, 72 percent of the executives derided the spending, in one sense, for picking technology winners and losers in a still evolving landscape, said Deloitte Clean Tech Practice Director Brian Goncher, who presented the work at the Cleantech Forum in San Francisco.
Obama Administration officials have earmarked $31 billion in grants and $5 billion in tax credits for clean-tech initiatives. Ninty-five percent of both accounts have been allocated, though only a tiny portion of the money has been spent.
The administration also will award $75 billion in loan guarantees, with only $18 billion committed so far.
The survey contacted 70 clean-tech companies, 60 percent of which didn’t apply for money. Of those that did apply, 65 percent sough grants, 22 percent, tax credits and 13 percent, loan guarantees.
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