Business & Incentive Grants Available for Research in Alternative Energy Sources
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Government and private sources are two areas where alternative energy researchers turn to for financing their work. In US, federal government has been interested in promoting work in alternate energy since the 1970s, and has been funding scientists and researchers working in this area. This funding trend has seen many fluctuations based on a number of factors like fuel prices, the political party in power, the stock market, etc.
The current energy crisis and the sharp rise in fuel prices have again re-ignited the interest in this research area. The rise in fuel prices has also led to the Energy Policy Act of 2005. This act offers tax incentives and grants to boost the research and development in renewable energy sources like sun, wind, wave, geothermal, biomass, etc.
If you are interested in researching renewable energy technologies and developing them, and you plan to be a non-profit organization, then you might be eligible to receive a grant from state or federal government. As the energy crisis has grown in the recent years, bringing the fuel prices up consistently, we need to reduce our dependency on fossil fuels, and expend our energies on researching and developing renewable and alternative power sources that will be kinder to our environment and more economical to assimilate and use. The politicians as well as the US president have spoken many a times about the Government grants available at state, federal as well as local levels for those doing research and development in alternative energy.
The government has been the chief funding vehicle for alternative energy researches, as such researches tend to be more expensive. However, there are private investors available as well who will be ready to invest in a research that can show potential of direct commercial gains.
There are a significant number of government funded grant programs that are available for researchers to tap into. The best lure that a government grant has is that it is free money, not a loan that has to be paid interest. It is money given to you, which does not have to be paid back. That said, getting one of these grants is not an easy thing. Since it is essentially free money, there are a number of restrictions tied to it. Government officials have to have a clear picture of the purpose of your work, the need that justifies the work, and the clear benefit the work could bring. Even when you qualify for a grant, you might or might not get it.
The lead government agency for energy research is the U.S. Department of Energy (DoE). They started in 1977 and since then have been a major funder of energy related research. For the year 2007, a 15 percent increase in DoE's fiscal year was requested, which included nearly $300 million for new initiatives in solar energy and biofuels, and $288 million for hydrogen fuels.
DoE funds a wide-ranging program of basic research through its Office of Science. They have an open solicitation for energy research, which includes alternative and renewable sciences. Researchers are encouraged to submit proposals here at any time.