DOE To Invest $300 Million In Vehicle Efficiency, Solar, CO2 Capture

NEW YORK -(Dow Jones)- The Department of Energy announced more than $300 million in investments for renewable-energy technologies Thursday, including solar power, carbon capture and storage, and high-efficiency cars and trucks.

The DOE will invest up to $240 million in high-efficiency commercial and passenger vehicles. The projects receiving funding will focus on improving engine efficiency, fuel economy and vehicle system technologies.

The funding also includes up to $22 million from the American Recovery and Reinvestment Act, the economic stimulus bill passed in February, for 24 new solar projects. The projects, which range from development of automated assembly processes to semiconductor fabrication, will also review funding from private partners.

The DOE also plans to invest up to $27 million in solar installation training.

Nine projects capturing carbon dioxide and storage from coal-fired power plants will receive $11.3 million in DOE funding. The projects will convert fuel into a gaseous mixture of hydrogen and carbon dioxide, removing the CO2 from the combustion process.