On August 24th, Vice President Biden released a report highlighting the impact of the American Recovery and Reinvestment Act (ARRA).

The ARRA totaled over $787 billion in funding across many different industry sectors, of which over $50 billion was to be invested in innovative and transformational energy projects, including investments in renewable energy, smart grid, advanced vehicle technologies among other areas.  Also part of the ARRA was the Section 48C Advanced Energy Manufacturing tax credits which NVCA aggressively advocated for and which many venture-backed portfolio companies have been able to utilize.

Vice President Biden's report showcases significant energy improvements as a result of ARRA funding in areas such as battery manufacturing and electric vehicles.  To be sure, the report is an effort by the Administration to show that these taxpayer's dollars were well spent, but there is little doubt that these funds helped jump start research and make gains in existing renewable energy sectors.