As part of the plan, the administration will spend around 29% more than the current spending on solar and wind power in order to make them affordable as conventional energy sources and to integrate them into the national electric grid, reports the Reuters.
Republicans, who dominate the House of Representatives, have opposed Obama’s clean-energy initiatives as wasteful expenditure. The opposition claims that high-profile bankrupt companies have benefitted from the initiatives.
The proposed budget will also raise the support for biofuels by 24% and will accelerate the funding for physics and other basic science research by 5.7%. The budget plan for the fiscal year 2014 is expected to boost clean technology investment by 40% over current levels.
The administration noted that the raise in investment shows the importance of clean energy and innovation to boost the country’s economy over the coming years.
