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The Department of Energy (DOE) is working to expedite the loan application process for clean energy companies seeking funding before the inauguration of President-elect Donald Trump. At the second annual Deploy24 conference, DOE officials and renewable energy executives discussed the future of the clean energy industry.
The DOE’s Loan Program Office (LPO) has financed a historic $44 billion in clean energy projects, including a $465 million loan to Tesla in 2010. However, with the uncertainty surrounding the new administration’s stance on climate change and clean energy initiatives, the mood at the conference was cautious.
During a private media roundtable, Jigar Shah, director of the LPO, stated that the office is still open for business and is willing to work with motivated applicants to close deals before the inauguration on January 20. He emphasized the importance of ensuring that loans, funded by taxpayers, are fully repaid to the federal government.
While the future of federal programming and clean energy tax credits under the Trump administration is uncertain, Shah remains optimistic about the future of the clean energy industry. He believes that the LPO will continue to function after the inauguration and that it is crucial for the loans to be repaid to the government.
The DOE’s efforts to expedite the loan application process and continue functioning during the transition to the new administration demonstrate their commitment to supporting the growth of the clean energy industry. This news is encouraging for clean energy companies seeking funding and could have a positive impact on job creation and reducing CO2 emissions.