General Electric is joining the push to boost the clean energy economy by providing $1,900 billion to the American Clean Energy Fund (ACEEE), the company announced Thursday.
The investment will help accelerate the deployment of clean energy technologies across the economy, from electric vehicles to microgrids to solar, the company said.
“The ACEEE will help build an America where we can all take our jobs and power our homes and businesses from wind, sun and energy efficiency to clean energy,” General Electric CEO Jeff Immelt said in a statement.
“We’re committed to making our country cleaner and more prosperous.
The ACEEE’s support is essential to our mission to build a more prosperous and secure America.”
The $1 billion investment will be made over a 10-year period, with the total amount of the investment pegged at $9 billion.
The funds will be invested in projects that create jobs and reduce carbon emissions, the ACEEE said.
The funds will help the ACEE reach a goal of reducing carbon emissions by 40 percent from 2005 levels by 2030.
According to the ACMEA, the investments are part of a broader effort to provide more than $300 billion to clean-energy companies over the next decade.
This year alone, General Electric invested $2.6 billion in clean energy companies, the group said.
“Our investment is critical for building the infrastructure that will ensure that America’s clean energy industry continues to thrive in the decades to come,” Immelt added.
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