Proposal aims to gut DOE loan program
If the House proposal to slash funding were to proceed, the DOE would be forced to withdraw six conditional loan guarantees the agency has issued to renewable projects ...In addition, 25 other renewable energy projects currently in the final stages of receiving their loan guarantees would not get them, she said.
March 29, 2011
by Naureen S. Malik and Cassandra Sweet
in Wall Street Journal
About $41 billion in loan guarantees for renewable-energy projects are caught up in the bipartisan wrangling over the federal budget, which could derail dozens of projects and eliminate tens of thousands of jobs. Even established companies are concerned, underscoring the nascent industry's reliance on government help.
A Republican proposal to slash the loan-guarantee program was included in a U.S. House of Representatives' budget bill passed last month. Such a move would be a setback for the Obama Administration's push to develop alternate sources of energy, slash greenhouse gas emissions and create jobs.
Renewable-energy companies, particularly solar power product makers and developers,... [continue via Web link]