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Audit Report: IG-0812

February 17, 2009

The Department of Energy's Loan Guarantee Program for Innovative Energy Technologies

The Energy Policy Act of 2005 (Energy Policy Act) authorized the Department of Energy (Department) to guarantee loans for new or significantly improved energy production technologies that avoid, reduce, or sequester air pollutants and other greenhouse gases. In August 2006, the Department issued its first solicitation for loan guarantees, and invited 16 respondents to the solicitation to submit full applications for loan guarantees in October 2007. The Department also announced three solicitations for nuclear power facilities, front end nuclear facilities for the production of nuclear fuel, and energy efficiency, renewable energy, and advance electricity transmission and distribution technologies in June 2008. The Department issued a solicitation for advanced fossil energy projects in September 2008. Collectively, the Department's solicitations make $42.5 billion available in loan guarantees to support innovative energy projects.

Topic: Financial Assistance