NEW FED BACKING FOR BIG SOLAR?

A new sunrise for CSP in Section 1703 loan guarantees? U.S. loan guarantees for renewable energy ended in 2011. Or did they?

Heba Hashem/Susan Kraemer, March 21, 2014 (CSP Today)

“…Energy Secretary Moniz declared that the Loan Programs Office (LPO) has remaining loan-guarantee authority – of $40 billion…[R]enewable energy loan guarantees under new funding of Section 1705 of the 2005 Energy Policy Act…[gave] birth to the giant new Concentrated Solar Power (CSP) projects in the US that are just starting to tumble past the finish post four years later. Solana and Ivanpah are now in operation. Crescent Dunes and Mojave are close behind…[D]espite the success of almost 100% of all the loan-guaranteed projects…Section 1705 was allowed to sunset [because of one bad renewable loan, Solyndra]…Energy Secretary Moniz referenced is the first funding under a different authority of the 2005 Energy Policy Act - Section 1703…The DOE is now preparing to offer new loan guarantees…[of $1.5 billion to up to $4 billion] for renewable energy loan guarantees…These funds will be for innovative projects that employ new or significantly improved energy technologies…” click here for more

click to enlarge

Tweet