Biden: Stimulus Dollars Fueling Energy and Life-Saving Technology
Recovery Act dollars fueled major innovative and technological breakthroughs in solar power, electric vehicles, and medical research, according to a new report touted by Vice President Joe Biden on Tuesday.
New technology, made possible by the $100 billion stimulus dollars invested in innovation, will cut the cost of solar power in half by 2015 and reduce the cost of electric vehicle batteries by 70 percent in the coming years, the report found.
Both Biden and Energy Secretary Steven Chu, who also spoke at the event, characterized the technological developments as "game-changers" that will help keep America competitive in the 21st century.
"The very roots of our growth are in innovation," Biden said.
Due to the Recovery Act, the report says, America is on track to double renewable energy generation capacity from wind, solar, and geothermal by 2012. And the cost of the human genome project, which could help discover new cures and personalize medical treatment, has been reduced significantly. By 2015, the cost of a personal human genome map will be less than $1,000.
The report included some fresh data on the $7 billion stimulus pot dedicated to broadband.
As of Aug. 18th, the Department of Commerce has invested $2.78 billion in broadband development and the Department of Agriculture invested $3.3 billion. Of the Commerce money, $125 million went to public computing and $157 million went to sustainable adoption programs that include digital literacy training and outreach campaigns.
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