Today, the U.S. Department of Energy’s (DOE) Loan Programs Office (LPO) released updated Program Guidance for the Title 17 Clean Energy Financing Program, which can provide a total principal amount of more than approximately $300 billion in loan guarantees for clean energy, facility decarbonization, and energy infrastructure reinvestment projects.
The new Title 17 Program guidance updates program eligibility, application requirements, and evaluation criteria; consolidates several existing solicitations into one easy-to-read document; and incorporates new authorities established by the Infrastructure Investment and Jobs Act (IIJA) in 2021 and the Inflation Reduction Act (IRA) in 2022. Those include the Energy Infrastructure Reinvestment (EIR, Section 1706) authority and a new category of financing under the existing section 1703 program for projects supported by a State Energy Financing Institution (SEFI). This guidance will help advance President Biden’s Investing in America agenda by helping facilitate clean energy projects in communities across the country.
What kind of projects can the Title 17 Clean Energy Financing Program support?
Under the Title 17 Clean Energy Financing Program, LPO can finance projects in the United States that support clean energy deployment and energy infrastructure reinvestment to reduce greenhouse gas emissions and air pollution. Title 17 was created by the Energy Policy Act of 2005 and has since been amended, most recently by the Infrastructure Investment and Jobs Act in 2021 and the Inflation Reduction Act in 2022. The legislation expanded the scope of Title 17 to include certain state-supported projects and projects that reinvest in legacy energy infrastructure, and it leverages additional loan authority and funding available for projects involving innovative energy technologies.
There are four project categories within the Title 17 Clean Energy Financing Program:
Innovative Energy Projects: Financing for projects that deploy "New or Significantly Improved Technology" that is technically proven but not yet widely commercialized in the United States.
Innovative Supply Chain Projects: Financing for projects that employ a New or Significantly Improved Technology in the manufacturing process for a qualifying clean energy technology or for projects that manufacture a New or Significantly Improved Technology.
State Energy Financing Institution (SEFI)-Supported Projects: Financing for projects that support deployment of qualifying clean energy technology and receive meaningful financial support or credit enhancements from an entity within a state agency or financing authority.
Energy Infrastructure Reinvestment (EIR) Projects: Financing for projects that retool, repower, repurpose, or replace energy infrastructure that has ceased operations or upgrade operating energy infrastructure to avoid, reduce, utilize, or sequester air pollutants or greenhouse gas emissions.
How do I learn more?
See below for links to more information, contact the LPO team with questions, and request a no-fee, no-commitment pre-application consultation today!
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