The Renewable Energy and Energy Efficiency Export Initiative will invest in market research to identify the products most likely to be competitive in global markets.
This will help the government identify its best targets for trade promotion.
Through the initiative, the Department of Energy and trade associations will collaborate with an aim of creating guides for foreign buyers.
“Expanding U.S. clean technology exports is a critical step to ensuring America’s economic competitiveness in the years ahead,” said energy secretary Steven Chu. “The initiatives we are announcing today will provide us with a better understanding of the global clean energy marketplace and help boost U.S. exports.”
The initiative will be led by the Department of Commerce and the Department of Energy. Other participants are the Department of Agriculture, the State Department, the Export-Import Bank, the Overseas Private Investment Corporation, the U.S. Trade and Development Agency, and the office of the U.S. Trade Representative.
The DOE said the program is the first coordinated effort between federal government agencies to support these type of exports.
It said the work will help to meet a goal set by president Barack Obama, for the US to become the leading exporter of clean energy technologies.
More than 100 countries have policies to encourage the deployment of these technologies, the DOE said.
Environmental groups have criticized the Export-Import Bank’s carbon reduction plan, saying it could open the door for financing high-carbon intensity projects such as coal-fired power plants.
The plan establishes a $250 million facility to finance renewable energy exports, including solar, wind and geothermal energy.
More details on the new initiative are available here.