$2 Billion Federal Loan Guarantee Program Part Of EPAct


The U.S. Department of Energy (DOE) has issued program guidelines for a total of $2 billion in loan guarantees to help spur investment in projects that employ new energy technologies. The program was authorized by the Energy Policy Act of 2005 (EPAct of 2005).

Loan guarantees will enable the DOE to share some of the financial risks of projects that employ new or improved energy technologies that avoid or reduce air pollutants and greenhouse gases, the DOE says.

‘With these loan guarantees, we hope to encourage creativity and ingenuity that will help us strengthen our nation's energy security,’ says DOE Secretary Samuel W. Bodman. ‘We hope to spur investment in new renewable energy projects like solar and wind, as well as clean coal technologies and efforts that can convert cellulosic biomass into ethanol.’

Proposals eligible for funding must include one of the following: biomass, hydrogen, solar, wind and hydropower, fossil energy coal, carbon-sequestration practices and technologies, efficient electricity transmission and delivery, energy reliability, alternative fuel vehicles, industrial energy-efficiency projects, or pollution-control equipment. The pre-application deadline is November 6, 2006.

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