The U.S. Department of Energy (DOE) has issued a draft loan guarantee solicitation for renewable energy and energy efficiency projects that avoid, reduce or sequester greenhouse gases. When finalized, the solicitation 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.
The DOE says the renewable energy and efficient energy projects loan guarantee solicitation is intended to support technologies that are effective and market ready. While any project that meets the eligibility requirements is eligible to apply, the DOE has identified five key technology areas of interest: advanced grid integration and storage, drop-in biofuels, waste-to-energy, enhancement of existing facilities, and efficiency improvements.
Within the draft solicitation, the department has included an illustrative list of potential technologies for consideration. Once the solicitation is finalized, the DOE's Loan Programs Office will be accepting applications.
‘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,’ says Secretary Ernest Moniz. ‘We want to replicate that success by focusing on technologies that are on the edge of commercial-scale deployment today.’