The Department of Energy (DOE) has issued a loan guarantee solicitation making as much as $4 billion in loan guarantees available for innovative renewable energy and energy efficiency projects located in the U.S. that avoid, reduce, or sequester greenhouse gases.
“As the President emphasized in his Climate Action Plan, it is critical that we take an all-of-the above approach to energy in order to cut carbon pollution, help address the effects of climate change and protect our children’s future,” said Secretary Ernest Moniz. “Investments in clean, low-carbon energy also provide an economic opportunity. Through previous loan guarantees and other investments, the Department is already helping launch or jumpstart entire industries in the U.S., from utility-scale wind and solar to nuclear and lower-carbon fossil energy. Today’s announcement will help build on and accelerate that success.”
The Renewable Energy and Efficient Energy Projects Loan Guarantee Solicitation is intended to support technologies that are catalytic, replicable, and market-ready. Within the solicitation, the Department has included a sample list illustrative of potential technologies for consideration. While any project that meets the appropriate requirements is eligible to apply, the Department has identified five key technology areas of interest: advanced grid integration and storage; drop-in biofuels; waste-to-energy; enhancement of existing facilities including micro-hydro or hydro updates to existing non-powered dams; and efficiency improvements.