Loan Programs Office
 | |
| Agency overview | |
|---|---|
| Formed | 2005 |
| Jurisdiction | United States Federal Government |
| Headquarters | James V. Forrestal Building 1000 Independence Avenue SW Washington D.C. 20585 |
| Agency executive |
|
| Parent agency |  U.S. Department of Energy |
| Website | Official Website |
The Loan Programs Office (LPO) is an office in the United States Department of Energy tasked with providing loans to the private sector to encourage the deployment of climate technologies.[1]
Provisions in the Inflation Reduction Act of 2022 grew the office's total loan authority to $400 billion. The office is led by Jigar Shah, a clean energy entrepreneur who previously co-hosted a popular podcast.[2]
History
The Energy Policy Act of 2005 authorized loan guarantees for innovative technologies that minimize greenhouse gas emissions, including advanced nuclear reactors, carbon capture systems, and various sources of renewable energy. Congress granted loan guarantee authority to the Department of Energy and the office was created to make loans to private companies.[3]
The program's Advanced Technology Vehicles Manufacturing Loan Program invests in electric vehicle development and was widely credited with helping to "put Tesla on the map."[4]
Loan Recipients
LPO has invested in many companies with renewable energy interests in the United States, including:
See also
- Jigar Shah
- United States Department of Energy
- Advanced Technology Vehicles Manufacturing Loan Program
- Inflation Reduction Act
References
- ↑ Milman, Oliver (3 Feb 2023). "The man in charge of how the US spends $400bn to shift away from fossil fuels". The Guardian.
- ↑ Plumer, Brad; Friedman, Lisa (May 11, 2023). "A Swaggering Clean-Energy Pioneer, With $400 Billion to Hand Out". The New York Times.
- ↑ "History". Loan Programs Office. 2023.
- ↑ Hawkins, Andrew J. (25 July 2022). "US resurrects green energy loan program that helped put Tesla on the map". The Verge.
- ↑ Wang, Ucilia (July 2, 2009). "Beacon Power, Nordic Windpower Get $59M DOE Loan Guarantees". Greentech Media.
- ↑ Fehrenbacher, Katie (Jun 22, 2023). "Ford wins $9.2B DOE loan to build EV battery factories". Axios.
- ↑ "US commits to $3 billion loan guarantee for Sunnova to expand solar access". Reuters. 20 April 2023.
External links
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