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Tribal Energy Loan Guarantee Program: Difference between revisions
Tribal Energy Loan Guarantee Program (view source)
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|ProgramType=Program | |ProgramType=Program | ||
|OrgSponsor=Office of Indian Energy Policy and Programs | |OrgSponsor=Office of Indian Energy Policy and Programs | ||
|TopOrganization=Department of Energy | |||
|CreationLegislation=Energy Policy Act of 1992 | |CreationLegislation=Energy Policy Act of 1992 | ||
|Purpose=To support economic opportunities for Native American and Alaska Native communities through energy development projects by providing loan guarantees. It enables tribes to access capital for energy projects that might otherwise be financially unfeasible.<ref>{{cite web |url=https://www.energy.gov/ie/loan-programs-office/tribal-energy-loan-guarantee-program |title=Tribal Energy Loan Guarantee Program |accessdate=January 30, 2025}}</ref> | |Purpose=To support economic opportunities for Native American and Alaska Native communities through energy development projects by providing loan guarantees. It enables tribes to access capital for energy projects that might otherwise be financially unfeasible.<ref>{{cite web |url=https://www.energy.gov/ie/loan-programs-office/tribal-energy-loan-guarantee-program |title=Tribal Energy Loan Guarantee Program |accessdate=January 30, 2025}}</ref> | ||
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|InitialFunding=$2 billion in loan guarantees | |InitialFunding=$2 billion in loan guarantees | ||
|Duration=Indefinite | |Duration=Indefinite | ||
|Historic= | |Historic=Yes | ||
}} | }} | ||
'''Tribal Energy Loan Guarantee Program (TELGP)''' is designed to support economic opportunities for Native American and Alaska Native communities through energy development projects by providing loan guarantees. It enables tribes to access capital for energy projects that might otherwise be financially unfeasible, promoting sustainable and economically beneficial energy initiatives.<ref>{{cite web |url=https://www.energy.gov/ie/loan-programs-office/tribal-energy-loan-guarantee-program |title=Tribal Energy Loan Guarantee Program |accessdate=January 30, 2025}}</ref> | '''Tribal Energy Loan Guarantee Program (TELGP)''' is designed to support economic opportunities for Native American and Alaska Native communities through energy development projects by providing loan guarantees. It enables tribes to access capital for energy projects that might otherwise be financially unfeasible, promoting sustainable and economically beneficial energy initiatives.<ref>{{cite web |url=https://www.energy.gov/ie/loan-programs-office/tribal-energy-loan-guarantee-program |title=Tribal Energy Loan Guarantee Program |accessdate=January 30, 2025}}</ref> | ||
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==Organization== | ==Organization== | ||
The program is managed by the Office of Indian Energy Policy and Programs within the U.S. Department of Energy, in collaboration with the Loan Programs Office. The leadership role for this program is held by the Director of the Office of Indian Energy Policy and Programs. | The program is managed by the Office of Indian Energy Policy and Programs within the U.S. Department of Energy, in collaboration with the [[Loan Programs Office]]. The leadership role for this program is held by the Director of the Office of Indian Energy Policy and Programs. | ||
==Partners== | ==Partners== | ||
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==History== | ==History== | ||
The Tribal Energy Loan Guarantee Program was authorized under the Energy Policy Act of 1992, but it was not until 2018 that it received its first funding through the Consolidated Appropriations Act.<ref>{{cite web |url=https://www.energy.gov/articles/department-energy-issues-2-billion-tribal-energy-loan-guarantee-program-solicitation |title=Department of Energy Issues $2 Billion Tribal Energy Loan Guarantee Program Solicitation |accessdate=January 30, 2025}}</ref> Initially, the program faced challenges with uptake due to high costs and lack of clarity in application processes. Significant changes were made in 2022 following feedback from tribes, which included fee elimination and clearer eligibility criteria.<ref>{{cite news |url=https://tribalbusinessnews.com/sections/energy/doe-tweaks-tribal-energy-loan-guarantee-program-based-on-feedback-from-tribes/ |title=DOE tweaks Tribal Energy Loan Guarantee Program based on feedback from tribes |work=Tribal Business News |date=June 5, 2022 |accessdate=January 30, 2025}}</ref> The program's first loan guarantee was announced in March 2024 for the Viejas Microgrid Project.<ref>{{cite news |url=https://tribalbusinessnews.com/sections/energy/tribal-energy-program-awakens-with-72-8m-loan-deal/ |title=Tribal energy program awakens with $72.8M loan deal |work=Tribal Business News |date=March 12, 2024 |accessdate=January 30, 2025}}</ref> | The Tribal Energy Loan Guarantee Program was authorized under the [[Energy Policy Act of 1992]], but it was not until 2018 that it received its first funding through the Consolidated Appropriations Act.<ref>{{cite web |url=https://www.energy.gov/articles/department-energy-issues-2-billion-tribal-energy-loan-guarantee-program-solicitation |title=Department of Energy Issues $2 Billion Tribal Energy Loan Guarantee Program Solicitation |accessdate=January 30, 2025}}</ref> Initially, the program faced challenges with uptake due to high costs and lack of clarity in application processes. Significant changes were made in 2022 following feedback from tribes, which included fee elimination and clearer eligibility criteria.<ref>{{cite news |url=https://tribalbusinessnews.com/sections/energy/doe-tweaks-tribal-energy-loan-guarantee-program-based-on-feedback-from-tribes/ |title=DOE tweaks Tribal Energy Loan Guarantee Program based on feedback from tribes |work=Tribal Business News |date=June 5, 2022 |accessdate=January 30, 2025}}</ref> The program's first loan guarantee was announced in March 2024 for the Viejas Microgrid Project.<ref>{{cite news |url=https://tribalbusinessnews.com/sections/energy/tribal-energy-program-awakens-with-72-8m-loan-deal/ |title=Tribal energy program awakens with $72.8M loan deal |work=Tribal Business News |date=March 12, 2024 |accessdate=January 30, 2025}}</ref> | ||
==Funding== | ==Funding== | ||
The program was initially authorized to provide up to $2 billion in loan guarantees. The Inflation Reduction Act in 2022 increased this to $20 billion, expanding the program's reach and capabilities. Funding for the guarantees does not have an end point, as it is structured to provide ongoing support for tribal energy projects. | The program was initially authorized to provide up to $2 billion in loan guarantees. The [[Inflation Reduction Act in 2022]] increased this to $20 billion, expanding the program's reach and capabilities. Funding for the guarantees does not have an end point, as it is structured to provide ongoing support for tribal energy projects. | ||
==Implementation== | ==Implementation== | ||
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== References == | == References == | ||
[[Category:Programs and initiatives]] | [[Category:Programs and initiatives]] | ||
[[Category:Office of Indian Energy Policy and Programs]] | [[Category:Office of Indian Energy Policy and Programs]] | ||