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Department of Energy: Status of Loan Programs
Frank Rusco (au)
The Dept. of Energy's (DOE) Loan Guarantee Program (LGP) for innovative energy projects was established in 2005 to encourage early commercial use of new or significantly improved technologies in energy projects. In Dec. 2007, Congress enacted the Energy Independence and Security Act (EISA), which made the nation's corporate average fuel economy standards for newly manufactured passenger vehicles more stringent by requiring significant increases in the fuel economy of the vehicles being sold in the U.S. by 2020. EISA also established the Advanced Tech. Vehicles Manufacturing (ATVM) loan program, which provides loans for projects to produce more fuel-efficient passenger vehicles and their components. DOE's Loan Programs Office administers both programs, which when combined have about $51 billion in unused loan and loan guarantee authority and approx. $4.4 billion in unused credit subsidy appropriations. This report determines the status of DOE's efforts to use the remaining loan and loan guarantee authorities and remaining credit subsidy appropriations for (1) the LGP and (2) the ATVM loan program. Tables and figures. This is a print on demand report.
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