DOD to drive cleantech market
The Department of Defense (DOD) has high goal for its renewable energy use. It's all part of the goal to reduce its energy costs (approximately $20 billion per year) and reliance on fossil fuels, as well as increase energy security.
According to Pike Research, DOD will increase its total installed capacity of renewable energy sources from 80 MW in 2013 to more than 3,200 MW by 2025. That's a more than fourfold increase in 12 years.
"U.S. military spending on renewable energy programs, including conservation measures, will reach almost $1.8 billion in 2025," said Pike Research Analyst Dexter Gauntlett. "This effort has the potential to not only transform the production, consumption, and transport of fuel and energy within the military; it will likely make the DOD one of the most important drivers of cleantech in the United States."
The goal is for DOD to have 1 GW of installed renewable energy capacity by 2025. This goal is likely to be met thanks to innovative funding models, such as power purchase agreements, as well as enhanced use leases.
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