DOE Revives Clean Energy Loan Guarantee Program
It would guarantee up to $1 billion in loans to help a Nebraska company scale up production of “clean” hydrogen to convert natural gas into commercial products used in manufacturing and agriculture.
Edited by Margo Ellis
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The Biden administration has issued its first clean energy loan guarantee, reviving an Obama-era program that helped launch the country’s first utility-scale wind and solar farms a decade ago but has largely gone dormant in recent years.
The revived loan program is part of President Biden’s efforts to slash planet-warming greenhouse gas emissions in half by 2030, amid legislative gridlock that has stalled a $2 trillion package of social and environmental initiatives. It’s among the tools he can use without new legislation.
The aid to Lincoln-based Monolith Inc. is the program’s first non-nuclear loan guarantee since 2016. Monolith produces “carbon black,” a powdery substance that enhances tires and other rubber products, and hydrogen used in ammonia-based fertilizer. The full article is here.
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