U.S. Sec. of Vitality Chris Wright announced the termination of 24 awards issued by the Workplace of Clear Vitality Demonstrations (OCED) totaling over $3.7 billion in taxpayer-funded monetary help. After an intensive and individualized monetary evaluation of every award, DOE mentioned it discovered these initiatives did not advance the power wants of the American folks, weren’t economically viable and wouldn’t generate a constructive return on funding of taxpayer {dollars}.
Of the 24 awards cancelled, practically 70% (16 of the 24 initiatives) had been signed between Election Day and January twentieth. The initiatives primarily embody funding for carbon seize and sequestration (CCS) and decarbonization initiatives. By terminating these awards, DOE is producing a right away $3.6 billion in financial savings for the American folks.
Earlier this month, DOE issued a Secretarial Memorandum entitled, “Guaranteeing Accountability for Monetary Help,” which outlined DOE’s coverage for evaluating monetary help on a case-by-case foundation to id waste of taxpayer {dollars}, shield America’s nationwide safety and advance President Trump’s dedication to unleash reasonably priced, dependable and safe power for the American folks. DOE utilized this evaluation course of to judge every of those 24 awards and decided that they didn’t meet the financial, nationwide safety or power safety requirements essential to maintain DOE’s funding.
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