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DOE Opens Application for $250M Clean Energy Loan Program; Jennifer Granholm Quoted

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The Department of Energy has begun accepting applications for a new program that seeks to help U.S. states and territories put in place revolving loan funds for energy efficiency and initiate clean energy upgrade projects.

DOE said Tuesday the Bipartisan Infrastructure Law has allocated $250 million in formula funding through the Energy Efficiency Revolving Loan Fund Capitalization Grant Program to improve the energy efficiency of existing commercial and residential buildings.

40 percent of the funding is allocated to all state energy offices and the remaining 60 percent is distributed to a group of priority states.

According to DOE, states can allot one-quarter of the funding for grants and technical assistance to small businesses and low-income homeowners as well as prioritize loan applications from disadvantaged communities.

“By expanding access to energy efficiency upgrades for American families and small to medium-sized businesses, we will generate energy savings and deliver cleaner air, helping states and historically underserved communities experience the broad benefits of energy efficiency,” commented Energy Secretary Jennifer Granholm.