Introduction
The U.S. Department of Energy has a Loan Programs Office (LPO) to administer its Loan Guarantee Program (with sections 1703 and 1705) and the Advanced Technologies Vehicle Program.
According to the LPO website: "The mission of LPO is to accelerate the domestic commercial deployment of innovative and advanced clean energy technologies at a scale sufficient to contribute meaningfully to the achievement of our national clean energy objectives—including job creation; reducing dependency on foreign oil; improving our environmental legacy; and enhancing American competitiveness in the global economy of the 21st century."
Loan Guarantee Program
Section 1703
"Section 1703 of Title XVII of the Energy Policy Act of 2005 authorizes the U.S. Department of Energy to support innovative clean energy technologies that are typically unable to obtain conventional private financing due to high technology risks." Technologies that DOE will consider include: biomass, hydrogen, solar, wind/hydropower, nuclear, advanced fossil energy coal, carbon sequestration practices/technologies, electricity delivery and energy reliability, alternative fuel vehicles, industrial energy efficiency projects, and pollution control equipment.
Eligibility Requirements
There are multiple requirements for projects to be eligible for a loan under Section 1703, including:
- Project must be located in the U.S. (foreign ownership or sponsorship is permissible as long as the project is located in a U.S. State, territory, or the District of Columbia)
- Project must employ a new or significantly improved technology that is not commercially available and avoids, reduces or sequesters air pollutants or anthropogenic emissions
- Project must meet Davis Bacon requirements
To learn more about the program, view eligibility requirements, and/or apply for a loan, go here.
Section 1705
"The American Recovery and Reinvestment Act of 2009 amended the Loan Guarantee Program’s authorizing legislation by adding Section 1705 to EPAct. Section 1705 is a temporary program designed to address the current economic conditions of the nation. It authorizes loan guarantees for certain renewable energy systems, electric power transmission systems and leading edge biofuels projects that commence construction no later than September 30, 2011."
Eligibility Requirements
The project must be a renewable energy systems project, electric power transmission systems project or leading edge biofuels project that:
- Is located in the U.S.
- Commences on or before September 30, 2011
- Meets Davis Bacon requirements
- Meets Recovery Act requirements
To learn more about the program and view eligibility requirements, go here.