The U.S. Department of Energy's Loan Guarantee Program paves the way for federal support of clean energy projects that use innovative technologies, and spurs further investment in these advanced technologies. A principal purpose of the Loan Guarantee Program is to encourage early commercial use in the United States of new or significantly improved technologies in energy projects. DOE believes that accelerated commercial use of new or improved technologies will help to create jobs and sustain economic growth, yield environmental benefits, and produce a more stable and secure energy supply.
DOE’s Advanced Technology Vehicles Manufacturing Loan Program provides loans to automobile and automobile part manufacturers for the cost of re-equipping, expanding, or establishing manufacturing facilities in the United States to produce advanced technology vehicles or qualified components, and for associated engineering integration costs.
To date, DOE has conditionally offered or closed 12 loans or loan guarantees. According to estimates from the companies, these projects will collectively create or save about 50,000 jobs. They will also lead to the capacity to produce more than 3 GW of clean power each year and will avoid more than 30 million tons of CO2 per year. The vehicle projects will save 270 million gallons of gasoline each year.
A nonprofit 501(c)3 organization, the RCWE’s mission is to connect people with jobs through collaborative workforce development efforts and strong partnerships with economic development, business, education, and government sectors in the Northwest Pennsylvania region.
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