July 2014 Newsletter: Executive-in-Residence News: "$4 Bilion in Loan Guarantees for Innovative Renewable Energy and Efficiency Projects"
On July 3, 2014, the U.S. Department of Energy (DOE) announced the availability of $4 billion in loan guarantees available for Innovative Renewable Energy and Efficient Energy Projects. Eligible projects must utilize an innovative technology or system and reduce, avoid or sequester greenhouse gases. DOE may guarantee up to 80% of an eligible project. While projects must be located in the U.S., projects may be foreign owned.
While, any renewable energy or energy efficiency technology that reduces green house gases and is new or significantly improved, as compared to more established technologies will be considered, DOE’s solicitation for this loan guarantee identifies five targeted technology areas of interest:
Advanced Grid Integration & Storage: This area focuses on renewable energy systems that mitigate issues related to variability, dispatchability, congestion, and control by incorporating technologies such as demand response or local storage. Drop-In Biofuels: This area focuses on biofuels that are more compatible with and take advantage of existing engines, delivery infrastructure and refueling station equipment.
Waste-to-Energy: This area focuses on projects harnessing waste products such as landfill methane and segregated waste as a source of energy.
Enhancement of Existing Facilities: This area focuses on projects incorporating renewable generation technology into existing renewable energy and efficient energy facilities to significantly enhance performance or extend the lifetime of the generating asset.
Efficiency Improvements: This area focuses on projects that incorporate new or improved technologies to further improve on energy efficiency that would substantially reduce greenhouse gases.
Part I applications, which will determine the initial eligibility of a project will be reviewed in application rounds, with the first round due by October 1, 2014.
If you would like more information about the foregoing or any other environmental law needs, please feel free to contact one of the following members of Butzel Long’s Energy & Sustainability Practice Team lawyers:
On July 3, 2014, the U.S. Department of Energy (DOE) announced the availability of $4 billion in loan guarantees available for Innovative Renewable Energy and Efficient Energy Projects. Eligible projects must utilize an innovative technology or system and reduce, avoid or sequester greenhouse gases. DOE may guarantee up to 80% of an eligible project. While projects must be located in the U.S., projects may be foreign owned.
Created by Joan Carleton (jfcarlet@oakland.edu) on Tuesday, July 29, 2014 Modified by Joan Carleton (jfcarlet@oakland.edu) on Tuesday, July 29, 2014 Article Start Date: Tuesday, July 29, 2014
