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'''Innovative Clean Energy Loan Guarantee Program (Title 17)''' is established to support innovative energy projects that reduce, avoid, or sequester greenhouse gas emissions through loan guarantees. It fills financing gaps for technologies not yet commercialized at scale, aiming to accelerate the deployment of clean energy technologies and catalyze private investment.<ref>{{cite web |url=https://www.energy.gov/lpo/innovative-clean-energy-loan-guarantees |title=Innovative Clean Energy Loan Guarantees |accessdate=January 30, 2025}}</ref> {{Official URL (simple)|url=https://www.energy.gov/lpo/innovative-clean-energy-loan-guarantees}} ==Goals== * Support projects that employ new or significantly improved technology for clean energy.<ref>{{cite web |url=https://www.energy.gov/lpo/innovative-clean-energy-loan-guarantees |title=Innovative Clean Energy Loan Guarantees |accessdate=January 30, 2025}}</ref> * Facilitate the commercial deployment of innovative clean energy technologies. * Reduce greenhouse gas emissions by expanding clean energy capacity. ==Organization== The program is managed by the Loan Programs Office (LPO) within the U.S. Department of Energy. The leadership role for this program is held by the Executive Director of LPO. ==Partners== * No specific partnerships are listed as the program directly engages with project developers. ==History== The Innovative Clean Energy Loan Guarantee Program was authorized by the **Energy Policy Act of 2005** to help finance projects that would not otherwise secure commercial lending due to perceived risks or lack of market history. Over time, the program has adapted to include broader categories of projects and has been instrumental in several high-profile clean energy deployments. Key historical moments include the successful financing of the Ivanpah Solar Electric Generating System and the expansion of eligibility categories through legislative updates like the Bipartisan Infrastructure Law and the Inflation Reduction Act, which have provided additional loan authority and expanded the program's scope. ==Funding== The program operates without a specific initial funding amount, as it provides loan guarantees rather than direct funding. Instead, it has been allocated various amounts of loan guarantee authority over the years, with billions in authority available for different project types under Title 17. The program's funding mechanism involves no upfront cost to the government, only potential liability if projects default, with the guarantee backed by the U.S. Treasury. ==Implementation== Implementation involves: * Application and review process for projects seeking loan guarantees. * Due diligence on technology readiness, project viability, and environmental benefits. * Structuring of financial guarantees that can cover up to 80% of eligible project costs. The program has no fixed end date, designed to continue supporting innovative energy projects indefinitely. ==Related== * [[Loan Programs Office]] * [[Energy Policy Act of 2005]] ==External links== * https://www.energy.gov/lpo/innovative-clean-energy-loan-guarantees * wikipedia:Innovative Clean Energy Loan Guarantee Program ===Social media=== * No specific social media accounts for this program; follow the Department of Energy for updates. ==References== [[Category:Programs and initiatives]] [[Category:Programs]] [[Category:Loan Programs Office]]
