In support of the Administration’s all of the above energy strategy, the Department of Energy issued a draft loan guarantee solicitation today for innovative renewable energy and energy efficiency projects located in the U.S. that avoid, reduce, or sequester greenhouse gases. When finalized, the solicitation is expected to make as much as $4 billion in loan guarantees available to help commercialize technologies that may be unable to obtain full commercial financing. This draft solicitation represents another step in the Department’s commitment to help overcome the financial barriers to the deployment of innovative, clean energy technologies.
“Through our existing renewable energy loan guarantees, the Department’s Loan Programs Office helped launch the U.S. utility-scale solar industry and other clean energy technologies that are now contributing to our clean energy portfolio,” said Secretary Ernest Moniz. “We want to replicate that success by focusing on technologies that are on the edge of commercial-scale deployment today.”
The Renewable Energy and Efficient Energy Projects Loan Guarantee solicitation is intended to support technologies that are catalytic, replicable, and market ready. Within the draft solicitation, the Department has included a sample list illustrative of potential technologies for consideration. While any project that meets the eligibility requirements is eligible to apply, the Department has identified five key technology areas of interest: advanced grid integration and storage; drop-in biofuels; waste-to-energy; enhancement of existing facilities; and efficiency improvements.
The Department welcomes public comment on a range of issues and will consider public feedback in defining the scope of the final solicitation. In addition to initiating a 30-day public comment period, a schedule of public meetings will be posted on the Department’s website. The draft solicitation can be found online at http://lpo.energy.gov.
Once the solicitation is finalized, the Department’s Loan Programs Office (LPO) will be accepting applications in three areas, which also include the $8 billion Advanced Fossil Energy Projects Solicitation that was released in December 2013 and the $16 billion Advanced Technology Vehicle Manufacturing (ATVM) loan program.
Currently, the LPO supports a diverse portfolio of more than $30 billion in loans, loan guarantees, and commitments, supporting more than 30 projects nationwide, including one of the world’s largest wind farms.
To learn about funding opportunities available through the Water Power Program, please visit the Financial Opportunities Web page.