See how LPO's portfolio is powering American homes with clean energy, manufacturing fuel-efficient light-duty vehicles, creating good jobs, and preventing carbon dioxide emissions.
With $8 billion in loans and commitments to projects that have supported the production of more than 4 million fuel-efficient cars and more than 35,000 direct jobs across eight states, LPO's Advanced Technology Vehicles Manufacturing (ATVM) loan program has played a key role in helping the American auto industry propel the resurgence of manufacturing in the United States. Read the full report here.
LPO is helping address the global challenge of climate change by providing critical financing needed to deploy some of the world’s largest and most innovative clean energy and advanced technology vehicles manufacturing projects, preventing more than 25 million metric tons of CO2 emissions to date. Read more on Executive Director Mark McCall’s blog post and see the full report here.
In 2011, LPO issued loan guarantees to the first 5 PV projects larger than 100 MW in the United States. Since 2011, an additional 17 PV projects larger than 100 MW have been financed without DOE loan guarantees. Read more on Executive Director Peter Davidson’s blog post or see the full report here.
As of September 2014, more than $810 million of interest has been earned and losses on the portfolio represent approximately 2% of LPO’s total loan and loan guarantee commitments. For more information on LPO’s financial performance, see Executive Director Peter Davidson’s blog post or read the full report here.
July 21, 2016FACT SHEET: Obama Administration Announces Federal and Private Sector Actions to Accelerate Electric Vehicle Adoption in the United States
Administration announces new actions geared towards accelerating the deployment of electric vehicle charging infrastructure and putting more electric vehicles on the road.
June 2, 2016Energy Secretary Moniz Hosts Gathering of World’s Energy Ministers in San Francisco to Advance Technology Solutions, Accelerate Clean Energy Deployment
21 governments and European Union announce efforts to double clean energy R&D investments over five years to $30 billion per year.
January 21, 2016
Secretary Moniz Continues Obama Administration Commitment to American Auto Industry, Releases Advanced Technology Vehicles Manufacturing Report on DOE Successes
August 24, 2015President Obama Announces More Than a Billion Dollars in Energy Department Initiatives to Advance Innovative Clean Energy Technologies
LPO and ARPA-E Initiatives Support America’s Growing Low-Carbon Economy and Combat Climate Change
June 24, 2015Energy Department Issues Remaining $1.8 Billion in Loan Guarantees for Vogtle Advanced Nuclear Energy Project
To further support the construction of two advanced nuclear reactors at the Alvin W. Vogtle Electric Generating Plant, the Department of Energy announced today it will issue $1.8 billion in loan guarantees to three subsidiaries of the Municipal Electric Authority of Georgia (MEAG Power).
March 26, 2015Energy Department Offers Conditional Commitment to Alcoa to Support Manufacturing of Aluminum for Automotive Sector
As part of the Administration’s effort to support advanced vehicles that are more affordable for Americans to drive, strengthen U.S. leadership in manufacturing advanced vehicle technologies, and reduce greenhouse gas emissions through increased fuel efficiency, the Department of Energy announced a conditional commitment for a $259 million loan to Alcoa Inc. today.