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Head of U.S. Department of Energy Loan Programs on Being a “Catalyst” for Wall Street and Why the Current Pace of Deployment for Climate Solutions in the United States is “Wholly Unacceptable”
WASHINGTON (BUSINESS WIRE) “Too much money and not enough projects” is how the head of the DOE Loan Programs Office characterizes the current pace of deployment for climate-related projects in the United States. “The pace at which we are deploying climate solutions is wholly unacceptable,” says Jigar Shah, director of the U.S. Department of Energy’s Loan Programs Office that has more than $40 billion in loans and loan guarantees available to help deploy large-scale energy infrastructure projects in the United States. “The United States is at maybe $200 billion a year of climate change solution deployment annually. That number has to probably be a trillion dollars a year to be able to be on track to [achieve] the goals that the president will be announcing [at the United
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Heavy Push by Industry, Biden Administration to Jumpstart Transmission Expansion, Grid Modernization
Bolstering the Biden administration’s recently announced initiatives to modernize the nation’s grid and improve its resilience, the Department of Energy (DOE) on April 27 made up to $8.25 billion in loans available to expand transmission capacity nationwide, while the Department of Transportation (DOT) offered new guidance to help speed the siting and permitting of transmission lines.
WASHINGTON
In support of the Biden Administration’s commitment to modernize the nation’s power grid and infrastructure and deliver 100 percent clean energy to businesses and homeowners by 2035, the U.S. Department of Energy (DOE) announced Tuesday the availability of up to $8.25 billion in loans from its Loan Programs Office (LPO) and the Western Area Power Administration (WAPA) for efforts to expand and improve the nation’s transmission grid. This is one of several Biden Administration announcements made today underscoring its commitment to accelerating efforts to expand and modernize the nation’s electrical grid, creating good-paying unions jobs while increasing access to reliable, affordable, clean power.