A secure and responsible energy future relies on innovation. Technological innovation is needed to help increase energy efficiency and advance the energy economy. De-risking new energy technologies is a critical step in bringing innovation to market. And this is a step directly addressed by the U.S. Department of Energy’s (DOE) In.

Financing these new and innovative energy projects is often difficult. This is often because investors are hesitant to accept risk for projects that rely on unproven technologies. Ensuring that innovative technologies secure adequate funding is the focus of the program.

The program is designed to foster the rapid deployment of renewable energy and electricity transmission projects by helping to ensure that there is a reasonable prospect of repayment of the financial obligations by the developer or borrower. The program was created under Title 17 of the 2005 Energy Policy Act.

After those first five PV projects, at least 45 projects of that scale have been financed in the United States without DOE loan guarantees

A loan guarantee is a contractual requirement that is designed to help facilitate loans for projects that are innovative, new and/or unproven. Continue reading « It is managed by the DOEs Loan Programs Office »