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U.S. DOE to offer $4 bn loan aid program for renewables

Construction on the Patua project site, Nevada (source: Gradient Resources)
Alexander Richter 23 Apr 2014

The U.S. Department of Energy is planning a new loan guarantee program for renewables, with up to $4 billion in loan aid available to innovative renewable energy projects.

Reported last week, the U.S. Department of Energy plans a new loan aid program with up to $4 billion in aid to renewable energy projects.

The program would be providing loan guarantees “for innovative projects that limit or avoid greenhouse gas emissions.”

While focusing mostly on other technologies, it seems to be open to geothermal projects as well.

With failures such as that of Solyndra, the former loan guarantee program is still seen as an overall success.

“We want to replicate that success by focusing on technologies that are on the edge of commercial-scale deployment today,” Energy Secretary Ernest Moniz said in a statement to Reuters.

Source: Reuters