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2008 SESSION

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HB 1421 Renewable Energy Research Grant Program; established.

Introduced by: C. Charles Caputo | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Renewable Energy Research Grant Program; established.  Establishes the Renewable Energy Research Grant Program and Fund under the Virginia Energy Plan. Moneys in the Fund shall be used for the sole purpose of attracting public and private research funding for institutions of higher education in order to increase renewable energy research capacity and development opportunities in Virginia. The program has four components: (i) a matching funds program to leverage federal and private research dollars; (ii) a strategic enhancement program to upgrade the research capacity of those academic departments that have demonstrated the ability to perform innovative research in renewable energy fields that have strong potential to contribute to economic development in the Commonwealth; (iii) a program to upgrade renewable energy research capacity in key departments of the institutions in order to attract specific companies to locate or expand in Virginia; and (iv) a program to enhance the capability of the institutions of higher education to commercialize renewable energy technologies or applications developed through their research.


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