U.S. Loan Programme Advances Energy Efficiency

THE U.S. Loan Program Office’s (LPO) has an impressive record. It provides finance to businesses who struggle to get loans from banks or other commercial financial sources for energy efficiency projects.

The U.S. Department of Energy (DOE) issued a draft loan guarantee solicitation through LPO for innovative renewable energy and energy efficiency projects located in the U.S. that avoid, reduce, or sequester greenhouse gases.

When finalized, the LPO 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.

As a fine example of the LPO’s success is Tesla’s speedy development of utility-scale solar PV, and the first US-produced battery packs. There have been set backs as well, which goes with the territory of financing what is often leading edge technology projects.

“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 DOE Secretary Ernest Moniz. “We want to replicate that success by focusing on technologies that are on the edge of commercial-scale deployment today.”

Picture of DOE Head Office by US Department of Energy [Public domain], via Wikimedia Commons

Monday 28th April 2014

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