Clean Energy Program | Memo
Senate Energy Loan Guarantees - Keeping the Senate’s Energy Loan Guarantees in the Stimulus
This memo supports the Senate proposal to create a technology-neutral clean energy loan guarantee program and increases funding for existing renewable energy loan guarantees to leverage private sector investment and help jump-start a critical sector of our economy that has been severely impacted by the economic crisis.
In the face of the greatest economic crisis in 70 years, it is critical that Congress pass an effective recovery package. The Senate provides $50 billion for technology-neutral clean energy loan guarantees and increases the renewable energy guarantees by $9.5 billion. This helps accomplish President Obama’s vision to generate both short-term stimulus and also longer-term investments. Congress must encourage every type of clean energy technology and these loan guarantees provide some of the resources required to meet that goal, at limited cost to taxpayers.