The U.S. 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.
According to the DOE, this solicitation is intended to support technologies that are catalytic, replicable and market-ready. Although 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.
‘As [President Barack Obama] 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,’ says Energy 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.’
Currently, the DOE says its Loan Programs Office (LPO) supports a diverse portfolio of more than $30 billion in loans, loan guarantees and commitments – supporting more than 30 projects nationwide. The projects that the LPO has supported include one of the world's largest wind farms; several of the world's largest solar generation and thermal energy storage systems; and more than a dozen new or retooled auto manufacturing plants across the country, the department adds.