September 11, 2006—The US Department of Energy (DOE) recently announced new guidelines for $2 billion in loan guarantees that will support clean energy projects. The loan guarantees will help reduce the financial risks of advanced energy projects that avoid, reduce, or sequester the emissions of air pollutants and greenhouse gases—specifically, cellulosic ethanol, solar, and wind energy projects.
The announcement was part of a series of events around the country to mark the first anniversary of the Energy Policy Act of 2005 (EPAct), which was signed by President Bush on August 8, 2005. Since EPAct was signed, construction has begun on 27 new ethanol plants and more than 400 E85 pumps have been installed, offering a renewable fuel containing 85 percent ethanol and 15 percent petroleum to consumers and fleets with flexible-fuel vehicles.
In addition, the use of wind and solar energy has increased, and 15 appliance efficiency standards have been implemented, says DOE. The bill also offers tax credits for energy efficiency improvements in buildings, and for the purchase of fuel-efficient vehicles.
