Green energy gets a whole lotta green

The grass is definitely greener on the other side. Unfortunately, it’s also a lot more expensive, at least when it comes to funding green energy.

Stanford University is spending $100 million to build a new energy institute. Surprisingly, $90 million of it alone came from two families. The institute’s main goal—just like the government’s—is to make renewable energy cheaper than fossil fuels: the Holy Grail of Sustainable Energy.

Currently, the United States imports 70 percent of the oil it consumes and the energy is coming from insecure, unreliable sources. So governments and private citizens alike are collaborating to find a more self-reliant solution.

Not wanting to be left behind, in Canada the Green Energy Action Fund coalition was created, with an aim to help align the country’s energy and job-creation policies with those of the United States.

Representing more than 850,000 Canadians, the coalition is led by a group called PowerUP Canada in an effort to get the federal and provincial governments to create a $41 billion “green” stimulus package.

This is an impressive sum, considering that the green stimulus package in the U.S. is only $10 billion more, and they have 10 times the population. Even more inspiring: four former prime ministers are also on board.

So what’s the plan?

Among other things, the coalition intends to create CDN $18.6 billion in low-interest loans to help renewable energy developers and create jobs. The money will also encourage energy retrofits of buildings, support green infrastructure projects and boost investment in clean technology manufacturing.

Money makes the world go round. And greenbacks are helping turn both countries…well, greener.