Department of Energy Offers $4 Billion in Loan Guarantees for Energy Efficiency, Renewables, and Energy Storage
The U.S. Department of Energy's Loan Programs Office recently announced a new solicitation for federal loan guarantees to help promote renewable energy, energy storage technology, and energy efficiency projects. The loan guarantees are aimed at promoting greenhouse gas-reducing technologies where DOE support will be "catalytic" -- that is, support of a particular project will help catalyze widespread adoption of the technology -- and the technology is replicable and market-ready.
Specific categories of projects eligible for loan guarantees include renewable energy projects that incorporate energy storage, smart grid and energy storage projects that promote renewables integration, and microgrid projects if they reduce carbon dioxide emissions. In addition, biofuels, waste-to-energy projects, and a variety of energy efficiency processes and technologies are eligible. Finally, loan guarantees can be used to retrofit existing non-powered dams with hydroelectric generation and to install variable speed pump-turbines into existing dams. As recently noted here, Congress also recently appropriated money to provide production incentives for hydroelectric power produced by new generators installed on existing non-powered dams and conduits.
DOE will being receiving initial applications October 1, 2014, and will begin receiving supplemental applications for those projects passing the initial screen on January 14, 2015. The solicitation provides for four additional rounds of applications.
If you have any questions about the DOE's loan program, energy project construction or finance, or other matters involving energy or environmental law, please contact a member of GTH's Energy, Telecommunications, and Utilities or Environment & Natural Resources practice groups. We're proud that our partner Jim Waldo was recently named 2013 Lawyer of the Year for Energy and Natural Resources Law, and six practice members were recently recognized as Washington Super Lawyers.