Recently, President Obama signed a measure allocating more than $30 billion for energy efficiency and renewable energy.
Van Jones: "Everybody gets all excited about Barack Obama and says we've never had a president this color before. And it's true. We've never had a president this green before, I mean that's the really exciting thing about Barack Obama."
A big part of the new green energy revolution is energy storage. In the form of batteries. The American Recovery and Reinvestment Act of 2009 directs $2 billion to help make advanced battery systems and components in the US. This includes advanced lithium-ion batteries and hybrid electric systems. Even though plug-in hybrids will roll off our assembly lines in the next few years, for now the on-board batteries will be made abroad.
The Chevy Volt's battery will be made in South Korea. The battery for Ford's hybrid, slated for 2012, will be produced in France. The Recovery and Reinvestment Act aims to halt that trend while adding jobs in the US.