Army Continues to Ramp up Investment in Renewable Energy Projects
- May 12, 2011
The Army is seeking to attract more than $7 billion in investment for energy development from the private sector by 2022, according to a speaker at the National Defense Industrial Association’s annual energy symposium this week.
The service has more than 120 renewable energy projects, but they only account for 2 percent of the Army’s energy usage, stated Caroline Harrover of Current Technologies Corp., reported National Defense Magazine.
To meet DOD’s policy requirements, the service would need to invest $134 billion in energy projects by 2016, a level of investment one order of magnitude higher than the Army currently spends on renewable energy initiatives. In 2010, the Army fell short of its target of consuming 5 percent of its energy from renewable sources, Harrover said.