The 2012 Department of Energy (DOE) budget submitted to Congress includes a 20 page section on Vehicle Technologies (VT), much of which is focused on vehicle electrification. In the 2012 DOE budget, VT finance increases 80 percent from $325 million to $588 million. Charging equipment and energy storage technology are getting the bulk of the financing assistance.
The majority, ($229 million) of the VT budget increase goes towards EV deployment and infrastructure. It will benefit programs like Clean Cities which provides grants for purchasing of EVs and charging equipment. It will also benefit EV charging equipment companies.
Funding increases also include energy storage technology which increased from 94 million in 2010 spending to $188 million in the proposed budget. The VT budget also invests in accelerating cost reduction through more research and manufacturing funding.
© 2011, Richard Matthews. All rights reserved.
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