August 23, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Last Friday, the U.S. Department of Energy (DOE) announced that the Biden administration had allocated $28 million to hydropower research and development. The funds are intended to help the U.S. move closer to the administration's goal of net-zero emissions from the U.S. power sector by 2035 and a fully net-zero economy by 2050. While the large majority of active renewable energy projects in the U.S. are for wind and solar power, hydropower remains a key player in power generation in the country, accounting for 31.5% of U.S. renewable electricity generation and about 6.3% of overall generation, according to the DOE. The funding is intended to ensure that this form of renewable power is more utilized and could help see movement on some of the $114 billion in U.S. hydro projects currently being tracked by Industrial Info. Companies featured: <a href='https://www.dominionenergy.com/' target='_blank'>Dominion Energy Incorporated</a> (<a href='https://www.nyse.com/quote/XNYS:D' target='_blank'>NYSE:D</a>), <a href='https://www.southerncompany.com/' target='_blank'>Southern Company</a> (<a href='https://www.nyse.com/quote/XNYS:SO' target='_blank'>NYSE:SO</a>), <a href='https://www.duke-energy.com/home' target='_blank'>Duke Energy Corporation</a>
