The California Energy Commission recently adopted a 2012-2013 Investment Plan Update that would pony up $100 million to bolster the use of alternative fuels and alternative energy-fueled vehicles.
Here’s the breakdown of the $100 million:
- $20 million to aid in the development and production of biofuels from sources ranging from waste to algae.
- $11 million for hydrogen fuel cell fueling stations. The number of hydrogen-powered vehicles on the road is expected to grow from 350 in 2011 to 53,000 by 2017.
- $7.5 million to aid in adding to the electric vehicle charging infrastructure.
- $3 million for other fueling infrastructure, including $1.5 million for E85 and $1.5 for natural gas.
- $25 million for incentives for alternative energy vehicles.
- $5 million for emerging opportunities to support innovative technologies, advanced fuels and federal cost-sharing projects.
- $20 million for manufacturing facilities, equipment and working capital. This will also help create upwards of 1,900 jobs over the next year and 3,500 in the years to come.
- $2.5 million for workforce development and training agreements.
- $3 million for regional alternative fuel readiness and planning.
- $3 million for collaborative work in existing and new centers for alternative fuels and advanced vehicle technology.
This reinvestment plan comes after the Energy Commission has already contributed over $200 million to other alternative energy projects in California, which in turn have brought in $375.5 million in outside contributions.
California Ponies up $100 Million for Alternative Transportation originally appeared in Green Chip Stocks. Green Chip Review is a free 2x-per-week newsletter, is the first advisory to focus exclusively on investments in alternative and renewable energies.