Aug 17, 2011

Clean Energy Deployment Administration (CEDA) - Clean Energy Financing Act of 2011

CBO -  Report ordered by the Senate Committee on Energy and Natural Resources
This legislation would establish the Clean Energy Deployment Administration (CEDA) within the Department of Energy (DOE) and authorize that new agency to provide various forms of financial assistance for clean energy projects developed by nonfederal entities. CEDA’s financial liabilities would be limited to the amounts available in a newly created Clean Energy Investment Fund, which would consist of federal appropriations and income from certain fees. Finally, the bill would modify some of the terms and procedures governing DOE’s Innovative Technology Loan Guarantee Program, which was established by title 17 of the Energy Policy Act of 2005.

Clean Energy Deployment Administration
This bill would expand the scope of federal financial assistance for clean energy projects relative to existing law. CEDA would be authorized to provide direct loans, loan guarantees, letters of credit, insurance, and other forms of credit enhancement for clean energy projects. Such assistance would be available for investments in the energy, transportation, manufacturing, commodities, residential, commercial, municipal, and other sectors of the economy. This assistance would supplement DOE’s existing credit programs for energy and automotive projects that use advanced technologies and meet certain environmental emissions standards. Although the legislation would express a sense of the Senate that the initial funding for CEDA’s activities should total $10 billion, the figures in this analysis reflect CBO’s estimate of CEDA’s likely obligations over the next five years.
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