Green business owners have more opportunities than ever to capitalize on renewable energy grants.
President Barack Obama has embraced the green movement, supporting green business start ups that develop eco-friendly technologies. Green business start ups are one of the greatest economic opportunities of the 21st century, and grant funding is available through the federal government and through private foundations. Competition for green business grants can be tough, and the application process takes perseverance and perfection when submitting documentation.
Research and Innovation
The Small Business Innovation Research (SBIR) Program and the Small Business Technology Transfer (STTR) Program, administered by the Federal government's Office of Technology, offer funding for green business start ups. Five federal departments support the SBIR program and eleven departments participate with the STTR program. Small high-tech businesses are awarded two-billion dollars annually for research and development.
Green Business: American Opportunity
Green business start ups have the chance to reduce a negative impact on community or society by offering products or services which look to uphold the triple bottom line: People, Planet and Profit. The Office of Energy Efficiency and Renewable Energy (EERE) works with industry and outside agencies through financial assistance and procurement. Funding allocations must meet Department of Energy and federal guidelines.
Clean Energy Improvements
The U.S. Department of Agriculture's Rural Energy for America Program (REAP) funds energy-efficient improvements for businesses. New green business start ups have the opportunity to utilize these funds to make clean energy improvements to an existing facility. This can offset some of the initial investment for a start-up business who may be considering retro-fitting an office building or manufacturing facility.
Funding Resources
The Database of State Incentives for Renewables & Efficiency (DSIRE) maintains thousands of listings for green grants, rebates and loans across the nation. Grants.gov works in coordination with the U.S. Department of Health and Human Services to provide a concise source for locating federal grants. When researching funding for a green business start up, it is important to consider the fact that many grant programs and foundations serve the non-profit sector.
