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A sort of a comeback for renewable energy loan guarantees in USA

Loan Guarantees for U.S. Renewables Making a Comeback, National Geographc by Pete Danko on April 17, 2014 Federal loan guarantees for renewable energy, which spurred the development of massive projects like the recently completed Ivanpah Solar Electric Generating System in California – and roiled the 2012 elections – are emerging from hibernation.

More than two years after closing the last such loan guarantee, the U.S. Department of Energyannounced on Wednesday that it intends to make up to $4 billion available “for innovative renewable energy and energy efficiency projects located in the U.S. that avoid, reduce, or sequester greenhouse gases.”

The announcement sets the stage for the DOE to offer support for projects that incorporate one or more of five broad technology types [PDF]:

  • “advanced grid integration and storage,” a key need in getting more intermittent renewable energy on the grid;
  • “drop-in biofuels,” which could directly replace conventional fossil fuels in cars, planes and ships and function within the current distribution system;
  • “waste-to-energy,” where waste gases and discarded materials are used in commercial-scale energy production;
  • “enhancement of existing facilities,” such as adding power-production to existing dams that don’t have it;
  • and “efficiency improvements,” a catchall that could range from residential building improvements to the recovery of energy from curtailed renewable energy systems……….

“The Loan Program Office portfolio is strong,” Reicher said. “You have a piece of this as a taxpayer, and it’s doing quite well.”

The portfolio is heavy with solar – the DOE notes that it backed the first five 100-megawatt-plus photovoltaic plants to go online in the United States – but will move into new realms now. That’s good news for companies like Wisconsin-based Virent, a developer of advanced biofuels technology……http://energyblog.nationalgeographic.com/2014/04/17/loan-guarantees-for-u-s-renewables-making-a-comeback/

April 19, 2014 Posted by | renewable, USA | Leave a comment

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