US DOE grants 1bn in loans for distributed energy projects

distributed energy
The DOE will be awarding US$1bn in funds to overcome the market barriers opposing deployment of distributed energy projects

In the US, the Department of Energy’s Loan Programmes Office (LPO) has announced that it will grant US$1bn in loan guarantees for commercial-scale distributed energy projects.

Rooftop solar, energy storage and smart grid technology solve key energy challenges, but their deployment is blocked by commercial lenders’ cautious approach to investing in these technologies without a “solid history of credit performance and commercial operation”, states a local media report.

The announcement by the DOE’s Loan Programmes Office will help overcome these barriers and speed up deployment of distributed energy technologies.

The LPO will also provide guidance with regard to the types of financial structure it may implement to support distributed energy resources projects.

DOE MOSAIC solar programme

US governmental agency for funding research and development of advanced energy technologies Advanced Research Projects Agency-Energy will also grant US$24m through its Micro-scale Optimized Solar-cell Arrays with Integrated Concentration (MOSAIC) programme to develop new solar PV technologies.

Through its MOSAIC project, the Department of Energy will seek to create highly-efficient PV panels, which use less surface area, as many conventional solar panels are not well suited for some residents, businesses, and utilities due to their size and location.

Projects in US states of California, Massachusetts, New York, North Carolina, Pennsylvania, Texas, and Washington have been selected under the MOSAIC programme.