The U.S. Department of Energy (DOE) gave two grants totaling $1 million to Lockheed Martin to determine the possibility of harnessing energy found between the hot and cold spots of oceans to generate electricity on a large scale commercial level.
Unlike previous ocean energy grants which have primarily focused on harnessing tidal waves and currents, Lockheed’s research will be based on thermal variances as an energy source of their own, referred to as Ocean Thermal Energy Conversion Technology (OETC).
Lockheed Martin’s team of scientists and engineers will use half of the money received to develop OETC software and tools that allow them to quickly find these thermal areas of the ocean and accurately assess them for their potential as renewable-energy sources.
The second grant being given to Lockheed will be strictly for their financial team who will be putting together a financial package of cost estimates based on their research on these hot and cold ocean spots. Lockheed Martin will need to determine the scalability, cost, performance, and ultimate potential for large-scale use and commercialization of OTEC technology, all to be included in the package.
An OTEC system uses the temperature difference between solar-warmed surface water and cold, deep water to run a heat engine, which produces electricity. Because the sun continually warms the planet’s oceans, this technology could serve as an inexpensive, clean, renewable source of energy.
This $1 million is merely the latest in a series of grants being awarded to the company. It was awarded $8.12 million last year by the Department of Defense to develop OTEC system components and an OTEC pilot plant.
Clean energy initiatives continue to take preference for funding through the federal government as the need for environmentally sound practices becomes more imminent. President Translation Agency UK Obama recently approved the DOE budget for the 2011 fiscal year in which they will receive 28.4 billion, including $2.36 billion for the DOE Office of Energy Efficiency and Renewable Energy (EERE).
With the US economy in a state of recession, many Americans are feeling the crunch when it comes to their money. They are cutting back on their spending and even on necessities, but this doesn’t have to be. What many Americans don’t know is that there are billions of dollars at their fingertips that are being distributed in the form of government and private sector grants and all they need do is apply.
This is free money that does not need to be repaid and that many companies and organizations continue to fund because of the great tax breaks, among other benefits. In fact foundations are required by law to give away 5% of their total assets each year to maintain their tax-exempt status.
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Government grants are free cash donations that are funded by tax dollars. There are over 1500 Federal grants programs managed by 57 different Federal agencies and on top of more than 24,000 state grants as well. These programs have been part of government infrastructure for many years now, but it hasn’t been until recently with the economic downturn, that the general population has really become aware of them. The responsibility of the federal government in times of need is to protect its citizens, and that means financially as well. They do this through the administration of these free government grants.
This money can be used for so many reasons: It can fund your education, pay your bills, go towards a down payment on a house, and even help you start or grow your business. The opportunities are endless and you have absolutely nothing to lose. Majority of people are being approved and are receiving their grant funds (up to $50,000) within 2 months of submitting their application! You can even apply to and qualify for several grants at one time.
Most free government grants are available ongoing throughout the year; however, each agency will have their own stipulations about when applications can be received in accordance to available funds at any given time.
Provided that you are over the age of 18 and are an American Citizen or Legal Resident you could be eligible to receive this money. And quite honestly, reasons why people don’t qualify for free grants are usually preventable ones. By and large this is sloppiness in the application process. Applicants need to be mindful that they are applying to the free grant program most suited to their needs. Careless applications where applicants do not meet eligibility or have not completed the application in full will most surely be rejected regardless of the proposal’s merit.
Apply for a government grant today and receive your share of the billions of dollars being given away every year to US Citizens just like you.
Remember, these grants do not require credit checks, collateral, security deposits or co-signers. Even if you have declared bankruptcy or have bad credit, as a tax payer and U.S. citizen or resident, you are entitled to apply for this money!
There are thousands of federal, state and private foundation programs that are awarding grants of $500 to $100,000 or more for worthy causes such as your own.