Military’s Push to Adopt Renewables Slowed by Lack of Investment
The Defense Department’s desire to conserve energy and increase its reliance on renewable sources has not been matched by the funding it has made available, according to a report from the National Defense Industrial Association’s annual energy symposium.
And so while the military looks to the private sector for financing, DOD’s tentative commitment means many industry members still are waiting on the sidelines.
“This reticence by government to finance large-scale energy projects has created a funding vacuum that is dependent upon the private sector to make sizable investments in a market that has not enjoyed overwhelming support,” said Paul “Bo” Bollinger, general manager of government solutions at The Boeing Co.’s energy division.
For its part, the Army is actively pursuing private-sector investment for renewable energy projects, with a goal of attracting more than $7 billion by 2022.
“The Army has had some success in small-scale renewable energy development — solar on rooftops, things like that,” said Caroline Harrover, senior policy analyst at Current Technologies Corp. “But the Army really needs to position to attract that large-scale renewable energy development. To do that, it’s going to need that alternative financing from the private sector.”
Read the story in National Defense magazine.