The Department of Energy's Loan Programs Office (LPO) was created by Congress in 2005 to help American innovative energy and advanced auto manufacturing projects overcome hurdles in obtaining loans to help bring new technologies to commercial deployment.
RETURN ON LPO INVESTMENTS
DRIVING ECONOMIC GROWTH
- $50 billion in total project investment
- 56,000 American jobs saved or created
- Boosting local economies
REDUCING CARBON EMISSIONS
- LPO portfolio has prevented 34.7 million metric tons of CO2 emissions — equivalent to 7.3 million cars off the road — through 2016
- ATVM projects have saved 1.7 billion gallons of gasoline through 2016
LAUNCHING NEW MARKETS
- LPO financed the first five utility-scale photovoltaic solar projects larger than 100 MW. At least 45 additional projects of that scale have been financed by the private sector.
- LPO financed the domestic production of electric vehicles.
- LPO financed the first new advanced nuclear reactors in the U.S.
STRONG FINANCIAL PERFORMANCE
LPO finances innovation, which carries some degree of financial risk. Thanks to rigorous due diligence and proactive portfolio management, LPO's portfolio compares favorably to private financing of conventional energy projects in the United States while protecting taxpayer interests.