Tesla Motors, Luz Solar Invited to Apply for Federal Clean Energy Loans

Tesla Motors, Luz Solar Invited to Apply for Federal Clean Energy Loans

The U.S Department of Energy released yesterday a list of 16 programs that were invited to submit full applications for federal guaranteed loans designed to support clean energy projects.

The projects, which were named by Secretary of Energy Samuel Bodman, included projects focused on biofuels, coal gasification, energy efficiency, solar and hydrogen power, and alternative fuel vehicles. Combined, the projects are seeking more than $27 billion in loans for projects that will cost more than $51 billion.

"Loan guarantees aim to stimulate investment and commercialization of clean energy technologies to reduce our Nation's reliance on foreign sources of energy," Bodman said. "Finalizing this regulation for the Department's Loan Guarantee program puts Americans one step nloser to being able to use new and novel sources of energy on a mass scale to reduce emissions and allow for vigorous economic growth and increased energy security."

The proposal submitted by Tesla Motors covers its consumer-focused electric vehicle project in New Mexico; other projects include coal gasification projects from the Minnesota-based Mesaba Energy Project, the Mississippi Power Company, and TX Energy; energy efficiency technologies for manufacturing paper and energy efficient windows; solar power projects in California and Nevada; and ethanol projects in Iowa, Idaho, Virginia and across the Southeast.

Full details about the loan program, as well as a list of the final projects invited to apply, is available from DoE's Loan Guarantee Program.