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DOE Loan Programs Office
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IN THIS ISSUE:
...and more updates below from the U.S. DOE Loan Programs Office!
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Hosted by the U.S. Department of Energy, the DOE Office of the Under Secretary for Infrastructure, and LPO, Deploy24 marked the second annual convening of leaders and capital allocators from across sectors dedicated to accelerating clean energy investment and deployment in the United States. The Washington, D.C.-based event wrapped up on December 5 after two days of record participation in its in-person sessions. Over 1,800 industry executives, investors, community leaders, and other public and private sector decision-makers from across the clean energy ecosystem attended, culminating with a keynote address by outgoing Secretary of Energy Jennifer Granholm on "American Leadership".
Designed as a unique gathering focused on accelerating the deployment of critical energy and decarbonization technologies across the U.S., Deploy24 showcased cutting-edge innovations, encouraged open and honest discussions about private-sector led, government-enabled deployment strategies and breakthroughs, and forged collaborations to help strengthen America's domestic supply chains and global economic competitiveness. See more videos, pictures, session presentations, and other takeaways from Deploy24 at: DeployTogether.com/Results.
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Also at Deploy24, LPO launched its "Better Borrower Challenge"—a leadership initiative challenging LPO borrowers to expand commitments to workers and job creation, strengthen community investment, and build secure supply chains to benefit all Americans. This voluntary challenge highlights the value of community benefits in ensuring project certainty and success.
Over the last few years, LPO has visited projects across the country to meet with borrowers, community leaders, elected officials, Tribes, community colleges, and labor unions, and the "Challenge" incorporates the best practices of our Borrowers and encourages others to consider these practices in their projects. Borrowers who join the Challenge share best practices to help others applicants learn how best to minimize risks in their projects. The Challenge recognizes Emerging Leaders and Champions across one or more of the following areas:
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Community and Labor Engagement – Accelerating Project Certainty
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Quality Jobs – Ensuring Skilled Local Labor
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Local Economic Development – Supply Chain Growth and Diversification
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Revitalizing Communities – Improving Energy Access, Environmental Impacts, and Opportunities for Residents
To learn more, visit: Energy.gov/LPO/Challenge
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In late November, LPO published a two-part blog series on credit subsidy cost, the mechanism by which the federal government budgets for expected unreimbursed costs of loans and loan guarantees. Analogous to a Loan Loss Reserve Fund for a single project, credit subsidy allows the federal government to budget for the risks inherent to high-impact debt financing. Depending on the various factors of each specific deal, credit subsidy cost can be positive or negative.
Part I of the series explains how LPO and its federal partners use probability of default, likely recovery rate, and other risk-related factors to calculate credit subsidy. Part II explains how credit subsidy calculations impact the estimated or actual maximum amount LPO can lend via each of its programs. For a full overview of credit subsidy and how it relates to LPO's estimated lending authority see: Energy.gov/LPO/Credit-Subsidy
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Shortcuts for Finding LPO Content After Recent Energy.gov Website Redesign
Last month, DOE updated the Energy.gov website, redesigning some of the navigation tools that many LPO stakeholders were accustomed to using to access applicant guidance, other content about LPO lending programs, and details about portfolio projects. To help potential applicants and other stakeholders adjust to this update, below is a short list of direct URL shortcuts to some key LPO content. If you are still struggling to find LPO content, please reach out directly to lpo@hq.doe.gov with your content inquiry.
* Note: All of the following URL shortcuts are preceded with: Energy.gov/LPO (e.g. Energy.gov/LPO/Title-17)
LPO Program Guidance:
- LPO Financing Programs Overview: /Financing-Programs
- Title 17 Clean Energy Financing Program: /Title-17
- Energy Infrastructure Reinvestment Program: /EIR
- Advanced Technology Vehicles Manufacturing Program: /ATVM
- Tribal Energy Financing Program: /Tribal
- CO2 Transportation Infrastructure Finance & Innovation Act Program: /CIFIA
LPO Applicant & Other Stakeholder Resources:
LPO Announcements and Other Blog Content:
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LPO's latest Monthly Application Activity Report (MAAR) tracks key metrics for active applications across 14 LPO major technology sectors and proposed project locations across the United States through November 30, 2024.
Also featured in the MAAR is LPO's latest estimated remaining loan authority for its financing programs, also as of November 30, 2024.
A reminder that with the start of Fiscal Year 2025, LPO updated reporting on loan and loan guarantee authority available under the Energy Infrastructure Reinvestment (EIR) program based on project activity, applicant interest to date, and anticipated applications. Along with these changes, LPO now expects to report on estimated remaining loan authority and loan guarantee authority annually at the Federal Fiscal Year (October 1) instead of monthly. Please see the full blog post about these updates for more information.
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The Energy Act of 2020 and the Inflation Reduction Act (IRA) of 2022 directed LPO to engage in outreach activities through conferences and online programs to disseminate information about its programs. Below is an overview of major upcoming events. See LPO's full events calendar at: Energy.gov/LPO/Events to browse events where LPO staff and leadership will be in attendance.
Recent Events
Deploy24 • 4-5 Dec 2024 • Washington, D.C.
Power Up: Tribal Energy Symposium • 9 Dec 2024 • Parker, AZ
Major Upcoming Events
Infocast Projects & Money • 27-29 Jan 2025 • New Orleans, LA
Seminole Tribe of Florida Renewable Energy & Sustainability 7th Annual Conference • 27-29 Jan 2025 • Hollywood, FL
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