DOE Announces New Loan Program for Renewable Energy Manufacturing Projects

The Department of Energy (DOE) announced this week a new loan guarantee solicitation for renewable energy manufacturing projects. The Commercial Technology Manufacturing Systems and Components solicitation will support the deployment of renewable energy technologies that reduce greenhouse gas emissions and help increase employment in the nation’s green manufacturing sector.

The solicitation will seek applications for projects that manufacture commercial technology renewable energy systems and components, such as wind turbine systems, blades or solar photovoltaic components.

The solicitation consists of a two-step process with rolling deadlines. The first Part I deadline is September 30, 2010, and the first Part II deadline is November 30, 2010. Final Part I applications are due November 30, 2010 and final Part II applications are due January 31, 2011. Applicants are strongly encouraged to get their applications in early since projects must meet all statutory and regulatory requirements and commence construction no later than September 30, 2011. The Department will make available up to $750 million to pay the credit subsidy costs of loan guarantees issued through this solicitation.

For more information and to access the online application portal, click here