DOE Announces Final Rule for Loan Guarantee Program
DOE also today invited 16 project sponsors, who submitted pre-applications last Fall, to submit full applications for loan guarantees. These projects include advanced technologies involving the uses of biomass, fossil energy, solar, industrial energy efficiency, electricity delivery and energy reliability, hydrogen, and alternative fuel vehicles. Projects supported by loan guarantees will help fulfill President Bush’s goal of reducing our reliance on imported sources of energy by diversifying our nation’s energy mix and increasing energy efficiency.
“Loan guarantees aim to stimulate investment and commercialization of clean energy technologies to reduce our Nation’s reliance on foreign sources of energy,” Secretary Bodman said. “Finalizing this regulation for the Department’s Loan Guarantee program puts Americans one step closer to being able to use new and novel sources of energy on a mass scale to reduce emissions and allow for vigorous economic growth and increased energy security.”