To support the cost of loans for clean energy technologies. IRA provided $40 billion of additional loan guarantee authority supported by $3.6 billion in credit subsidy for projects eligible for loan guarantees under section 1703 of the Energy Policy Act of 2005. This authority is open to all eligible Title 17 Clean Energy technology categories, including fossil energy and nuclear energy, and new categories of activities, including critical minerals processing, manufacturing, and recycling. As a general matter, eligible projects must involve new or significantly improved technology. However, projects that also receive financial support from state energy financing institutions (SEFI) are exempt from the innovation requirements.
Overview
Office:Loan Programs Office |
New Program:No |
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Funding Amount:$3,600,000,000 of credit subsidy appropriations under IRA and additional $40,000,000 of loan guarantee authority. |
Funding Mechanism:Loan Guarantees, including guarantees of Federal Financing Bank loans |
Recipients:States, Counties, Cities / Townships, Special Districts, Tribal Governments (federally recognized), Tribal Governments (other than federally recognized), Independent School Districts, Public Higher-Ed Institutions, Private Higher-Ed Institutions, Public Housing Authorities, Indian Housing Authorities, Nonprofits with 501(c)(3) status, Nonprofits without 501(c)(3) status, Small Businesses, Businesses (other than small businesses) |
Period of Availability:To remain available through 9/30/2026 |
Assistance Listing:81.126 |
Formula Funding:No |
Tribal Eligibility:Yes |
Cost Share Requirement:N/A. Loan guarantee amount cannot exceed 80% of eligible project costs. |
More Information
Interim final rule and accompanying guidance expected Q1 2023.
