DOE announced last week that it will offer an estimated $30 billion in loan guarantees for renewable energy projects. The actual value of the loan guarantees depends upon the specific applications and the market conditions, both of which determine how much funding is needed to subsidize the loan. DOE's lending authority includes up to $8.5 billion in loan guarantees supported by 2009 annual appropriations, as well as $2 billion in loan subsidies from the American Recovery and Reinvestment Act, which can support billions in loans for renewable energy and electric power transmission projects. The Recovery Act also provides up to $500 million in loan subsidies to support loans for cutting-edge biofuel projects.
See the DOE press release and the Web site for the DOE Loan Guarantee Program.
