VP Touts Recovery Act Investments

VP Touts Recovery Act Investments

U.S. on-track to achieve four breakthroughs as result of investments.

When Vice President Joe Biden last week, unveiled a new report on the successes of "The Recovery Act", he pointed out that Recovery Act investments are paving the way for game-changing breakthroughs in transportation, energy and medical research. He said the Recovery Act's $100 billion investment is not only transforming the economy and creating new jobs, but helping accelerate significant advances in science and technology.

At the same event, Energy Secretary Steven Chu said that thanks to investments made possible by the Recovery Act, they are unleashing the American innovation machine to change the way we use and produce energy in this country.

According to this new analysis, the U.S. is now on-track to achieve four major innovation breakthroughs thanks to Recovery Act investments. They are: doubling U.S. renewable energy generation capacity and U.S. renewable manufacturing capacity by 2012; cutting the cost of solar power in half by 2015; and cutting the cost of batteries for electric vehicles by 70% between 2009 and 2015

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