Bill Gates to invest billions in renewable energy
Tuesday, 30 Jun 2015

The Supreme Court may have dealt a crushing blow this week to President Barack Obama's efforts to curb climate change, but all is not lost.

Microsoft co-founder and billionaire philanthropist Bill Gates announced plans to spend up to $2 billion on innovative renewable technologies over the next five years. In an interview with the Financial Times (paywall), Gates said he hopes to "bend the curve" through the cultivation of "breakthrough" technologies, doubling an already impressive billion-dollar investment. He has so far written checks to 15 green companies, he said, and has contributed venture capital funds to another 30.

Source: http://www.msn.com/en-au/money/news/bill-gates-to-invest-billions-in-renewable-energy/ar-AAckkGR
Bill Gates to invest billions in renewable energy

In the interview, Gates calls for far greater funding for renewable research, saying investment "should be like the Manhattan Project and the Apollo Project in the sense that the government should put in a serious amount of R&D." He pointed to the drawbacks of now-commonplace technologies like solar, which can only provide power during the day.

"There’s no battery technology that’s even close to allowing us to take all of our energy from renewables and be able to use battery storage in order to deal not only with the 24-hour cycle but also with long periods of time where it’s cloudy and you don’t have sun or you don’t have wind," he said.

Despite the recent Supreme Court ruling that undercut the Environmental Protection Agency's regulation of mercury and other toxic emissions from power plants, the U.S. has been making strides in the fight against climate change.

The Huffington Post's Kate Sheppard notes the EPA is finishing up rules that would limit greenhouse gas emissions from new and existing power plants, which should be finalized in the coming weeks. And the president has come out swinging against the warming phenomenon, citing the hazards against American's health and a risk to national security.

Renewable energy is expected to draw trillions in investment over the next quarter century, but the Bill and Melinda Gates Foundation has come under fire before for some aspects of its climate activism.

The Guardian notes the Gates Foundation has yet to announced any plans to divest its portfolio from fossil fuels, despite similar moves from the likes of the Rockefeller Brothers Fund and the government of Norway. The Gates Foundation has $1.4 billion invested in fossil fuel companies including BP, according to 2013 tax filings.

More Articles

Greens want to extend Renewable Energy Target

Greens want to extend Renewable Energy Target

25 Tuesday 2018
The Victorian Government promises half-price solar batteries if re-elected

The Victorian Government promises half-price solar batteries if re-elected

18 Tuesday 2018
Solar energy is set to replace gas and save Australian industry

Solar energy is set to replace gas and save Australian industry

04 Tuesday 2018
Printed solar cells may be the way of the future!

Printed solar cells may be the way of the future!

30 Thursday 2018
The anti-RET Morrison government threatens the solar installation rebate

The anti-RET Morrison government threatens the solar installation rebate

29 Wednesday 2018
Victorian energy scheme for half-price solar panels now active!

Victorian energy scheme for half-price solar panels now active!

23 Thursday 2018
Australian businesses turn to solar in a bid to cut on energy costs!

Australian businesses turn to solar in a bid to cut on energy costs!

16 Thursday 2018
Poll reveals Australians fear coal and wants renewable energy to cut electricity prices

Poll reveals Australians fear coal and wants renewable energy to cut electricity prices

09 Thursday 2018
AICA Energy Sydney Raffle Promo - 1.5kW Solar PV System - Terms and Conditions

AICA Energy Sydney Raffle Promo - 1.5kW Solar PV System - Terms and Conditions

03 Friday 2018
Energy Minister wants solar subsidies scrapped

Energy Minister wants solar subsidies scrapped

02 Thursday 2018
Australia says solar energy quality is more important than price!

Australia says solar energy quality is more important than price!

24 Tuesday 2018
How do solar panels actually work?

How do solar panels actually work?

24 Tuesday 2018
Renewable energy will replace old coal plants at the lowest cost!

Renewable energy will replace old coal plants at the lowest cost!

20 Friday 2018
One in five rooftop solar systems are deficient due to dodgy operators!

One in five rooftop solar systems are deficient due to dodgy operators!

26 Tuesday 2018
7 steps to reducing your energy bills

7 steps to reducing your energy bills

21 Thursday 2018
AICA Engineering awarded the Energy Efficiency Project of the Year Award for 2018

AICA Engineering awarded the Energy Efficiency Project of the Year Award for 2018

19 Tuesday 2018
Do you want to know how to better use your energy?

Do you want to know how to better use your energy?

08 Friday 2018
Solar energy may be the answer to solving Australia’s water shortage

Solar energy may be the answer to solving Australia’s water shortage

01 Friday 2018
WA homeowners are set to expect a 7% energy bill rise from July 1

WA homeowners are set to expect a 7% energy bill rise from July 1

30 Wednesday 2018
Almost half of Australian businesses have made the switch to solar

Almost half of Australian businesses have made the switch to solar

29 Tuesday 2018
As installation costs remain high why not invest in a more reliable solar system?

As installation costs remain high why not invest in a more reliable solar system?

22 Tuesday 2018
WA power plants are being shut off due to huge solar energy output

WA power plants are being shut off due to huge solar energy output

21 Monday 2018
Renters happy to pay more for properties with solar energy

Renters happy to pay more for properties with solar energy

16 Wednesday 2018
Australia could become the world’s first 100% renewable energy powered continent

Australia could become the world’s first 100% renewable energy powered continent

16 Wednesday 2018
Solar energy rebate changes could create big problems for old solar investors

Solar energy rebate changes could create big problems for old solar investors

11 Friday 2018

Request for Free Consultation