Secretary of Energy Ernest Moniz outlines a funding strategy designed to “meet our economic and environmental objectives through innovative science, technology and analysis,” he said. Shelbie Bostedt/MNS
WASHINGTON – Energy Secretary Ernest Moniz on Monday proposed $29.9 billion in spending for his department in 2016, a 9 percent increase from the current year, with a focus on renewable energy technologies and energy efficiency.
Following the release of President Barack Obama’s 2016 fiscal budget proposal of $4 trillion, Moniz outlined his department’s budget request, which calls for $5 billion in research and development for the upcoming fiscal year, with focuses on manufacturing, energy efficiency, modernization and renewable energy to work toward a low-carbon economy.
To further the research and development that is “essential to U.S. innovation and economic competitiveness,” the budget calls for the department to oversee $34 billion, added to the existing $40 billion, in loans and loan guarantees to finance private projects in new energy technologies.
“Our department is the backbone of the country’s physical science research infrastructure,” Moniz said. “We will continue to provide and keep pushing the envelope […] for the national research community.”
The proposal includes an additional $5.3 billion for the Office of Science and $2.72 billion for the Office of Energy Efficiency and Renewable Energy to promote research and development for new clean energy resources.
Moniz said the Energy Department’s budget proposal reflects the agency’s dedication to ending U.S. dependence on oil and natural gas, aligning with Obama’s emphasis on sustainable energy sources.
The budget proposed $560 million for research to reduce the environmental impacts and greenhouse gas emissions of natural gas, coal and oil, with an additional $4 billion outside of the department in incentives for states to cut power plant emissions more quickly.
“We have an important focus on modernizing our energy infrastructure,” Moniz said. “We are hoping to build on the start we’ve made in FY15.”
He said he is “prepared to defend this budget” to a Congress controlled by Republicans.
“These are investments that are going to grow the economy and the middle class,” he said.
