DOE may use Title XVII to finance electric vehicle infrastructure
Last week the U.S. Department of Energy's Loan Program Office released a supplement announcement clarifying that the deployment and installation of electric vehicle (EV) charging infrastructure and associated hardware and software may be financed under the Title XVII Renewable Energy and Efficient Energy Projects (REEE) solicitation. Specifically, the supplement provides that EV charging facilities may be deemed efficient electrical transmission and distribution technologies under the REEE solicitation. The REEE solicitation currently provides up to $4.5 billion in loan guarantees (for a variety of projects not just EV charging) to support innovative renewable energy and efficient energy projects in the United States.
Electric vehicles can play an important role in reducing green house gases and meeting the United States dynamic climate goals; however, insufficient charging infrastructure remains an obstacle to growing this industry.
The Loan Program Office Loan guarantees can be an important tool to commercialize innovative technologies because these projects may be unable to obtain full commercial financing due to the perceived risks associated with technology that has never been deployed at commercial scale in the United States. The Department of Energy's Loan Program Office supports a large, diverse portfolio of more than $40 billion in loans, loan guarantees, and commitments to approximately 30 closed and committed projects nationwide, including leading edge renewable energy projects, advanced technology vehicle manufacturing facilities, and other projects.
- To read more about the Loan Program Office check out this fact sheet found here.
The front page http://energy.gov/lpo/loan-programs-office includes supplement deadline dates that are listed on the front webpage for the site that range from August 17th to November 30th.
An additional resource of dedicated electric vehicle related content by the Loan Program office can be found on this webpage. The page lists the new supplement and the White House factsheet issued last week summarizing the supplement, among other EV-related announcements.