Renewable energy projects will have a little more time to apply for federal government loan guarantees.
Biomass Magazine reports the U.S. Department of Energy has moved the deadline for the July 2009 energy efficiency, renewable energy and advanced transmission and distribution technologies solicitations six weeks later to October 5th of this year:
The newly-created Round 8, Part I of the application stage is intended to give companies additional time to develop and submit Part I applications to apply for a loan guarantee under Section 1705, provided by the American Recovery and Reinvestment Act.
The Part II application deadline remains Dec. 31. The Aug. 24 application deadline for Round 7 remains the same.
“The Department is committed to bringing as many commercial renewable projects online as possible to help us meet our clean energy goals and generate more jobs,” said energy secretary Steven Chu. “By extending the time applicants can file, we will be able to support additional projects that diversify the country’s clean energy mix and strengthen our economy.”
This comes on the heels of Congress’ decision to cut $1.5 billion from the DOE’s $26.1 billion DOE funding pool for renewable energy projects to cover teacher salaries and Medicaid (see Joanna’s post from August 11). The article also points out that just a year ago, Congress and the Obama Administration raided the renewable energy loan guarantee program to the tune of $2 billion to fund the “Cash for Clunkers” program to help stimulate new auto sales. Senate Majority Leader Harry Reid has promised that Congress will restore the recently cut $1.5 billion from the DOE Loan Guarantee Program.