DOE to issue up to $4B in loan guarantees for energy & efficiency projects tackling GHGs; drop-in biofuels a key area
The US Department of Energy (DOE) issued a loan guarantee solicitation (earlier post), making as much as $4 billion in loan guarantees available for innovative renewable energy and energy efficiency projects located in the US that avoid, reduce, or sequester greenhouse gases. With the new announcement, the Department’s Loan Programs Office (LPO) is now accepting applications in three areas, which also include the $8-billion Advanced Fossil Energy Projects solicitation that was released in December 2013 and the $16-billion Advanced Technology Vehicle Manufacturing (ATVM) loan program.
The Renewable Energy and Efficient Energy (REEE) Projects Loan Guarantee Solicitation is intended to support technologies that are catalytic, replicable, and market-ready.
Within the solicitation, the Department has included a sample list illustrative of potential technologies for consideration. While 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;
- enhancement of existing facilities including micro-hydro or hydro updates to existing non-powered dams; and
- efficiency improvements.
Currently, the 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 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.