08/05/2008

DOE Guarantees $10 Billion in Loans for Green Energy Projects

 
The U.S. Department of Energy (DOE) is offering $10 billion in loan guarantees for projects involving energy efficiency, renewable energy, and advanced transmission and distribution. The agency is seeking projects relating to biomass, geothermal, solar, and wind energy, as well as projects involving hydropower, alternative fuel vehicles, and energy efficiency.

In addition to general energy-efficiency projects, the solicitation specifically requests projects relating to energy-efficient building technologies and efficient electricity transmission, distribution, and storage. DOE intends to issue loan guarantees for standalone projects, as well as projects relating to manufacturing technologies and the large-scale integration of renewable energy, energy efficiency, and energy-storage technologies into the electrical grid. The agency issued a solicitation in July for the loan guarantees, along with two solicitations for nuclear power that increase the total loan guarantee package to $30.5 billion.

DOE's Loan Guarantee Program was established by the Energy Policy Act of 2005 and is intended only for projects that avoid, reduce, or sequester greenhouse-gas emissions and employ "new or significantly improved technologies as compared to commercial technologies in service in the United States."

A technology is considered to be commercialized if it has been installed in three or more commercial projects in the United States and has been in service for at least 5 years. The solicitation includes an illustrative list of technologies, but does not restrict applications to technologies on that list. The guarantees can be issued for loans of up to 80 percent of a project's total cost.

Applications are due on Dec. 31. Go to the Loan Guarantee Program website (www.lgprogram.energy.gov/index.html) for more information.
 

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When choosing a metal-clad building for your next construction project, consider Morton Buildings, Inc., and their designBUILD team, we’ll make your dream a reality.

Visit our website today to learn about the design flexibility of a Morton building and the endless possibilities of partnering with our designBUILD team.

Wood construction is both cost and energy efficient. Check out Morton Buildings and our designBUILD team online today to discover all the benefits of post-frame construction.

We Can Help You Reduce Energy by 30%

Our mission is to help our customers manage their buildings' energy costs, improve reliability, and enhance performance while having a positive impact on the environment.
CLICK HERE to find out how.


Mitsubishi Electric’s H2i R2-Series heat pumps provide 100% heating capacity down to 0° F and simultaneous heating and cooling down to -4° F delivering year-round comfort, regardless of climate zone.

 
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