Obama sets goal to raise $2 billion from private sector for clean energy technology

President Barack Obama is setting a goal of raising $2 billion from the private sector for investments in clean energy.

The White House says it's launching a Clean Energy Investment Initiative as part of the Obama administration's effort to address climate change.

The Energy Department will solicit investments from philanthropists and investors concerned about climate change. The aim is to spur development of technologies and energy sources that are low in carbon dioxide pollution, such as solar panels, wind power, fuel cells and advanced batteries.

The White House says groups like Wells Fargo, the University of California Board of Regents, and the William and Flora Hewlett Foundation are committing to scale up their investments in clean energy.

The White House will also host a Clean Energy Investment Summit this spring.