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DOE Plans $38.5B in Loan Guarantees for Reduction of Criteria and GHG Emissions
15 April 2008
The US Department of Energy (DOE) plans to issue loan guarantee solicitations in two stages this summer for up to $38.5 billion for projects that employ advanced technologies that avoid, reduce or sequester emissions of criteria air pollutants and greenhouse gases. This will mark the second and third rounds of solicitations for DOE’s Loan Guarantee program, which encourages the development of new energy technologies.
DOE will the solicitations concurrently no later than June 2008 for efficiency, renewable energy and electric transmission projects (up to $10 billion); nuclear power facilities (up to $18.5 billion); and nuclear facilities for the “front-end” of the nuclear fuel cycle, including uranium enrichment (up to $2 billion). Later this summer, DOE intends to issue a third solicitation for loan guarantee applicants for advanced fossil energy projects (up to $8 billion).
Prior to the issuance of the upcoming $10 billion solicitation for projects in the efficiency, renewable energy and electric transmission areas, the Department intends to issue a Request for Information to solicit input from stakeholders concerning areas of particular technology focus and interest in these areas. These technologies could include renewable energy and energy efficient technologies, including advanced transmission and distribution technologies, hydrogen and fuel cell technologies, energy efficient building technologies and applications, battery development, alternative vehicle technologies, and ocean wave/tidal, solar, wind, geothermal and biomass technology development.
Selection criteria for the clean energy projects under these solicitations will focus on the avoidance of emissions of greenhouse gas emissions and other air pollutants; the speed at which technologies can be commercialized; cost-saving potential for consumers; the prospect of repayment; and the potential for long-lasting success of these technologies in the marketplace.
April 15, 2008 in Brief | Permalink | Comments (11) | TrackBack (0)
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Comments
$35 billion in tax credits for electric cars would do a lot more
Posted by: Herm | Apr 15, 2008 2:50:36 PM
They will need lots of loan guarantees in the present credit crunch. Loan guarantees are insurance for the lender and a liability to the government, but a smart way to gain financial leverage for the companies and a way to get needed products and services to the markets.
Posted by: sjc | Apr 15, 2008 3:54:38 PM
Lol, the usual DOE BS.
http://greyfalcon.net/energysearch.png
Notice how more than half of it's going to Nuclear.
Incidentally, Nuclear can't get a thin dime in loan guarantees from Wall Street.
Posted by: GreyFlcn | Apr 15, 2008 8:36:59 PM
Greyflcn,
Could it be that Wall Street doesn't guarantee any loans?
The Nuclear Energy Institute had a recent graph in their blog (they did not originate the graph it was an investment house) that tracked the stock value of predominantly coal based electric utilities versus predominantly nuclear based electric utilities for, I believe, the last 15 years. The nuclear utilities significantly outperformed the coal based.
Bill
Posted by: Bill Young | Apr 16, 2008 2:53:16 AM
compared to coal, nuclear plants use a lot less manpower.. during maintenance they bring in temp workers that float from plant to plant .
Posted by: Herm | Apr 16, 2008 4:37:27 AM
Well, of course.
Nuclear is a pork paradise.
If you payed for your grandfathered facility vastly under the cost of production, shift all that extra burden onto tax payers, and then have hardly any Fuel-Operations-Maintenance costs, then you got yourself a pretty sweet deal.
I bet you though, Nuclear Energy Institute doesn't feature this:
neimagazine.com/story.asp?storyCode=2047917
Or this:
manhattan-institute.org/html/eper_01.htm
foe.org/No_Nuke_Loans/Wall_Street.pdf
_
Also of course Wall Street Finances Loans.
What do you think the entire housing loan crisis was about?
Posted by: GreyFlcn | Apr 16, 2008 4:52:38 AM
Compare this for instance to 4 major Wall Street investment banks refusing to grant loans for conventional coal plants.
blogs.wsj.com/environmentalcapital/2008/02/04/wall-street-tells-big-coal-not-so-fast/
blogs.wsj.com/environmentalcapital/2008/04/02/bank-of-america-more-heat-on-coal/
Nuclear is worse off than even that. Too risky. Along with a really slow Return on Investment (If any).
Nuclear just can't compete without lavish taxpayer financing holding it's hand every step of the way.
Hell, they can't even do their own conventional light water reactor R&D without demanding it be 80% financed by the Fed.
www.inl.gov/featurestories/docs/inl_07-13543_08.pdf
Posted by: GreyFlcn | Apr 16, 2008 8:10:55 AM
But if you listen to Republicans (and I suggest that you do not) you will hear that all the lack of funding for power plants is about those darn treehuggers and not their greedy friends in finance.
Bush's friend Ken Lay and Enron gamed the system in California and Cheney blamed it on lack of permits. Those guys have more gall than you can imagine. Their friends cause the problems, they blame it on others and then tell you the "solution" in drilling off the coast.
Posted by: sjc | Apr 16, 2008 9:34:23 AM
Thats because 1 america is a bad investment in general and 2 no one rea;y thinks the first few nuke plants will make it without lawsuits fubarring it all up. And the banks dont have the money anyway.
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Top of the day to you.
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Posted by: Mr.Henry Smith | May 23, 2008 12:57:00 AM
