The U.S. Department of Energy announced Thursday a new loan guarantee solicitation for renewable energy manufacturing projects.
The Commercial Technology Manufacturing Systems and Components solicitation is supported by the American Recovery and Reinvestment Act through Section 1705 of the Loan Guarantee Program. The solicitation will support the deployment of renewable energy technologies that reduce greenhouse gas emissions and create new clean energy jobs.
(Earlier this week President Obama signed a bill that removes an additional $1.5 billion in funding for DOE loan guarantees–on top of the $2 billion taken out last year to pay for the "Cash For Clunkers" rebates.)
The solicitation will seek applications for projects that manufacture commercial technology renewable energy systems, such as an energy storage system, and components, such as wind turbine systems, blades or solar photovoltaic components.
DOE said it has recently implemented a number of improvements to its loan guarantee program that will help facilitate a more efficient application process. For example, the Department designed and organized the manufacturing solicitation to provide greater transparency into application requirements, evaluation processes, schedules and fees. Additionally, applicants can apply to the solicitation via the newly launched, user-friendly online application portal.
As with earlier solicitations, the manufacturing solicitation will consist of a two-step process with rolling deadlines. The first Part I deadline is August 31, 2010, and the first Part II deadline is October 31, 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.
More information on this program is available a the link below.
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