Energy Department makes $4B in loan guarantees available for renewable and efficiency projects
Originally published July 16, 2014
The Department of Energy issued a loan guarantee solicitation early this month, making as much as $4 billion in loan guarantees available for innovative renewable energy and energy efficiency projects located in the U.S. that avoid, reduce, or sequester greenhouse gases. DOE said the solicitation supports President Obama’s Climate Action Plan and "represents the next step in the Department’s commitment to support the deployment of innovative, clean energy technologies at commercial scale" in the United States.
"As the president emphasized in his Climate Action Plan, it is critical that we take an all-of-the above approach to energy in order to cut carbon pollution, help address the effects of climate change and protect our children’s future," said Energy Secretary Ernest Moniz. "Investments in clean, low-carbon energy also provide an economic opportunity. Through previous loan guarantees and other investments, the Department is already helping launch or jump start entire industries in the U.S., from utility-scale wind and solar to nuclear and lower-carbon fossil energy. Today’s announcement will help build on and accelerate that success."
DOE said the Renewable Energy and Efficient Energy Projects Loan Guarantee Solicitation is intended to support "technologies that are catalytic, replicable, and market-ready." DOE said it is especially interested in advanced grid integration and storage; drop-in biofuels; waste-to-energy; enhancement of existing facilities including micro-hydro or hydro updates to existing non-powered dams; and efficiency improvements.
With the July 3 announcement, DOE's Loan Programs Office is now accepting applications in three areas, which include the $8 billion Advanced Fossil Energy Projects solicitation that was released in December 2013 and the $16 billion Advanced Technology Vehicle Manufacturing loan program.
The Loan Programs Office has a portfolio of roughly $30 billion in loans, loan guarantees, and commitments, supporting about 30 projects nationwide, DOE said. The projects it has backed include one of the world’s largest wind farms and several of the world’s largest solar generation and thermal energy storage systems, the department said.
For more information or to apply, see the DOE website.
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