The Climate Renewables and Efficiency Development Initiative is an international agreement, led by the Department of Energy, that helps residents of low income countries switch to more energy efficient appliances. According to the Department of Energy, the United States will be paying $85 billion of the project costs from 2011-2015, and other developed countries will cover the remaining $265 billion in costs.
This project includes several new programs. One program is the Solar and LED energy program. LED bulbs are much more energy efficient than traditional incandescent bulbs, and they are even more energy efficient than compact fluorescent bulbs. The purpose of this project is to provide the bulbs, along with solar generators, to rural residents and other people who don’t have access to the electric grid.
The Super Efficient Equipment and Appliance Deployment program is also a new program that Climate REDI establishes. The program focuses on market incentives. California and other states periodically offer tax credits for energy efficient appliances, immediate purchase rebates, and provide subsidies so that sources of clean energy can compete with other power sources such as coal and oil. According to Humboldt State University, California advisers are already familiar with establishing standards for these incentive programs because of the previous and current initiatives in the state.
The third new Climate REDI program is the Clean Energy Information Platform. This is a database that allows scientists in developing countries to easily exchange information with advisers in the developed countries that are funding the project. Each technologically advanced country picks different areas of expertise, so Australia and Britain consult on carbon capture and Germany and Spain give advice about solar power.
Another program is the Scaling Up Renewable Energy Program. $250 billion out of the total $350 billion of project funds will support this program, which is an existing program that the World Bank manages, according to America.gov. Although Climate REDI offers $250 million to finance this project, the World Bank also uses funds from other sources to support renewable energy projects in developing countries.