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Energy Dept. Offers Loan Aid Plan for Green Energy

The U.S. Energy Department on Wednesday unveiled a plan to offer up to $4 billion in loan aid to renewable energy projects, opening up another round of funding for a program that faced harsh political attacks over past government-backed failures.The draft plan would provide loan guarantees for innovative projects that limit or avoid greenhouse gas emissions.It will specifically focus on advanced electric grid technology and storage, biofuels that can be used in conventional vehicles, energy from waste products and energy efficiency improvements.This latest loan offering follows a round of funding from the 2009 economic stimulus that backed solar, wind and geothermal projects, including now bankrupt solar panel manufacturer Solyndra.Despite the high-profile collapse of Solyndra, the Obama administration has stressed that most of its energy investments have done well and it credits the program with helping the U.S. solar industry go from panels on the roof of a house to industrial-scale ...

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