Energy Sec. Moniz announces that U.S. will fund $50 million for loans promoting fuel efficiency

Energy Sec. Moniz announces that U.S. will fund $50 million for loans promoting fuel efficiency

Keynoting the public sector side of Washingtons Auto Show Media Day, Secretary of Energy Ernest Moniz promised $50 million in funding for fuel-efficient vehicles. The funding includes support of the Energy Departments EV Everywhere Grand Challenge, an initiative launched in March 2012 to make plug-in electric vehicles more affordable and convenient to own and drive than todays gasoline-powered vehicles over the next 10 years. The funding can be used for such things as creating advanced batteries, and lightweighting vehicles, thereby reducing friction. Sec. Moniz said DOE research and development funds helped make nickel metal hydride batteries more efficient.

Spotlighting the growth of electric vehicles Moniz said that nearly 100,000 plug-in electrics were sold last year. He mentioned the e- gallon measure on DOEs website, which shows the cost of driving an EV by city. It is $1.03 per gallon in Washington. But infrastructure remains the challenge for EVs through-out the country. It requires a team effort among the states, federal government and the industry, added David Danielson, assistant secretary for Energy Efficiency and Renewable Energy.

Moniz took a tour to see some of the alternative-fuel vehicles displayed at the WAS before his remarks to the media.

Its encouraging walking around this Auto Show and seeing the diversity and vehicle- design innovation, he said. Its simply great to see the many options we have in gas, diesel, natural gas and fuel-cell vehicles.

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