Those of us who have been railing on the government's increasing push to make massive loan guarantees available to individual energy firms are not surprised to see the first major bankruptcy. Solyndra went down with $535 million in federal guarantees for lots of reasons. The marketplace is increasingly competitive. Power prices have fallen due to recession and fracking-induced reductions in the cost of natural gas. China subsidizes its solar production, artificially manipulates exchange rates, and there is a growing supply overhang as PV subsidies in Europe get cut. New technologies lo
The goal of the Department of Energy's Loan Guarantee Program (Program), as defined in the Energy Policy Act of 2005, is to provide Federal support, in the form of loan guarantees, to spur commercial investments in clean energy projects that use innovative technologies. The Department estimates that the Program, one of the largest of its kind in U.S. history, can guarantee at present up to $71 billion in loans.
American Power Act's nuclear loan guarantee retention fees: an admission of large subsidies even if no default
This is the first of what will hopefully be a series of posts looking at specific aspects of The American Power Act (APA) proposed by Senators John Kerry and Joe Lieberman.
This one deals with the nuclear “loan guarantee retention fee” (section 1102), as an item I’d flagged an needing additional information in my initial review of the Bill’s summary.
Formal comments outlining market distortions and structural weaknesses in DOE's multi-billion dollar program to subsidize favored energy technologies. Authorized under Title XVII of the Energy Policy Act of 2005, the program creates a huge potential windfall to the nuclear sector. Also accessible on DOE site. (July 2007).