The Inflation Reduction Act makes the single largest investment in climate and energy in American history. IRA substantially increased the Loan Program Office’s (LPO) existing lending authorities by more than $100 billion, and also created a new loan program, the Energy Infrastructure Reinvestment (EIR) Program (Title 17 section 1706). EIR will guarantee loans to projects that retool, repower, repurpose, or replace energy infrastructure that has ceased operations, or enable operating energy infrastructure to avoid, reduce, utilize, or sequester air pollutants or anthropogenic emissions of greenhouse gases. IRA appropriates $5 billion through September 30, 2026, to carry out EIR, with a total cap on loans of up to $250 billion.
Potential applicants with projects that could be eligible for the EIR program and are currently further along in development should become familiar with certain requirements applicable to all loans and loan guarantees issued under Title 17. These requirements can be found in Title 17 Innovative Clean Energy (section 1703) solicitation here.
Specifically, we encourage potential applicants to review Sections III-VIII of the solicitation related to:
- Application Requirements
- Evaluation Process
- Fees and Expenses
- Applications Instructions
- Additional Provisions, and
- Requirement Certification
Potential applicants should also review the specific application details required in in Attachment A (Part I Application Instructions) and Attachment B (Part II Application Instructions) to the solicitation.
In order to commence the application process under EIR, potential applicants should be mindful to follow these additional instructions:
Applicants should fill out Attachment A, with the exception of the following:
- Because specific project types and the requirement for new or significantly improved technology as stated in the existing solicitation are specific to Title 17 Innovative Clean Energy solicitation, Project Eligibility in Section II and the restriction on multiple applications in Section VII(G) do not apply to EIR. Accordingly, applicants are not required to fill out such information under “C. Project Description,” “2. Project Category” or "D. Technical Information,” “2. Description of New or Significantly Improved Technology” within Attachment A.
Additionally, applicants should fill out, in Attachment A, “C. Project Description,” “Executive Summary,” information on the potential project and how it meets the requirements of one or both of the following two categories:
- A proposed project that retools, repowers, repurposes, or replaces energy infrastructure that has ceased operations, including details on the site where infrastructure has ceased operations, the energy infrastructure the project is leveraging/impacting, and plans for the site moving forward. If the project replaces energy infrastructure that involved fossil-fueled generation, include how the project will incorporate controls or technologies to avoid, reduce, utilize, or sequester air pollutants and anthropogenic GHG emissions; information on plans to address emissions can be provided in Attachment A, “7. Emissions Information.”
- A proposed project that enables operating energy infrastructure to avoid, reduce, utilize, or sequester air pollutants or GHGs, including details on the site where the infrastructure is operating, the energy infrastructure the project is leveraging/impacting, and plans for the site moving forward. Please provide information about the site where the infrastructure is currently operating and about the technologies that will be incorporated at the site to avoid, reduce, utilize, or sequester air pollutants or anthropogenic GHG emissions. Information on plans to address emissions can be provided in Attachment A, “7. Emissions Information.”
Finally, applicants should, for either of the two categories of project above, provide in Attachment A, “C. Project Description,” “Executive Summary,” information addressing the following:
- A description of the proposed project site(s), including how the potential applicant can demonstrate site control of the proposed project site(s);
- How the applicant’s project will engage with and affect associated communities;
- Whether—and if so, how—the applicant’s project will involve environmental remediation of the site; and
- For electric utility applicants, a statement on whether the applicant will be able to verify that the applicant will pass along any financial benefit from the guarantee made under this section to the customers of, or associated communities served by, the utility.