The Loan Programs Office at the U.S. Department of Energy still has up to $4.5 billion in loan authority available for Renewable Energy and Efficient Energy (REEE) projects.
The office was created by Congress in 2005 to help American innovative energy and advanced auto manufacturing projects overcome hurdles in obtaining loans to help bring new technologies to commercial deployment. The office was preserved as part of the Omnibus budget passed by the Trump administration.
LPO issues loan guarantees through its Title XVII and ATVM programs. Title XVII relates to innovative clean energy projects and finances projects that employ new or significantly improved technologies as compared to commercial technologies in service in the U.S. at the time the guarantee is issued; avoid, reduce or sequester anthropogenic emissions of greenhouse gases; be located in the U.S.; and provide a reasonable prospect of repayment.
Within the REEE loan guarantee solicitation, DOE identified five key technology areas of interest:
New hydro, pumped storage, and marine and hydrokinetic projects would be eligible per the above terms