Credit subsidies (1 - 5 of 5 items)
DOE Loan Programs: Information on Implementation of GAO Recommendations and Program Costs
GAO-16-150T: Published: Mar 3, 2016. Publicly Released: Mar 3, 2016.
The Department of Energy (DOE) has made efforts to improve the implementation and oversight of its loan programs and, to date, has taken actions to address 15 of 24 of GAO's prior related recommendations. DOE's Loan Guarantee Program (LGP), authorized by Congress in 2005, was designed to encourage certain types of energy projects (e.g., nuclear, solar, and wind generation; solar manufacturing; and...
DOE Loan Programs: Current Estimated Net Costs Include $2.2 Billion in Credit Subsidy, Plus Administrative Expenses
GAO-15-438: Published: Apr 27, 2015. Publicly Released: Apr 27, 2015.
The Department of Energy's (DOE) loan programs portfolio consists of 34 loans and loan guarantees totaling about $28 billion in support of 30 projects in a diverse array of technologies. DOE's Loan Guarantee Program (LGP) encourages certain types of energy projects by agreeing to reimburse lenders for the guaranteed amount of loans if the borrowers default. These guarantees have been for nuclear,...
DOE Loan Programs: DOE Has Made More Than $30 Billion in Loans and Guarantees and Needs to Fully Develop Its Loan Monitoring Function
GAO-14-645T: Published: May 30, 2014. Publicly Released: May 30, 2014.
The Department of Energy‘s (DOE) three loan programs have made more than $30 billion in loans and loan guarantees for supporting certain renewable or innovative energy technologies. For the Section 1703 Loan Guarantee Program (LGP), begun in 2006, borrowers generally must pay credit subsidy costs for the loans. In 2014, DOE guaranteed its first two loans under Section 1703 for a total of $6.2 bi...
Federal Support for Renewable and Advanced Energy Technologies
GAO-13-514T: Published: Apr 16, 2013. Publicly Released: Apr 16, 2013.
This statement presents highlights from two reports related to federal support of renewable and advanced energy technologies.The first report discusses GAO's broad review of federal wind-related initiatives. In summary, GAO identified 82 federal wind-related initiatives implemented by nine agencies in fiscal year 2011. Most of these initiatives supported deployment of wind facilities and, of these...
Department of Energy: Status of Loan Programs
GAO-13-331R: Published: Mar 15, 2013. Publicly Released: Mar 15, 2013.
As of January 29, 2013, Department of Energy (DOE) was considering using $15.1 billion of the $34.8 billion in remaining loan guarantee authority for loan guarantees requested by 13 active Loan Guarantee Program (LGP) applications. According to DOE officials, the agency planned to use all of the remaining $170 million in credit subsidy appropriations to support active applications for energy effic...