Cleantech
February 25, 2010 Posted by:
Matt Maloney
Much has been written and spoken about the 2009 Recovery Act and the largesse bestowed upon the Department of Energy (DOE) to stimulate the renewable energy and cleantech sectors. So how are they doing? Depending on your perspective, there is a broad range of answers. Based on an allocation of $36.7 billion from the Act that extends until September 2011, the DOE has "obligated" about 75% of that amount. Not bad, right? Well, as of the end of 2009, just 5% of those dollars have actually been delivered. There are many reasons for this and the funds should flow better in 2010. As for the Loan Guaranty Program initiated in late 2005, and expanded through the Act, to encourage innovative clean technologies, the DOE just announced a $1.37 billion award to Brightsource Energy, just the fourth such award and first since June 2009. There is a large backlog of applicants that are moving slowly through the process and there should be some new announcements soon.
The views expressed in this column are solely those of the author and do not reflect the views of SVB Financial Group, or Silicon Valley Bank, or any of its affiliates. This material, including without limitation the statistical information herein, is provided for informational purposes only. The material is based in part upon information from third-party sources that we believe to be reliable, but which has not been independently verified by us and, as such, we do not represent that the information is accurate or complete. The information should not be viewed as tax, investment, legal or other advice nor is it to be relied on in making an investment or other decisions. You should obtain relevant and specific professional advice before making any investment decision. Nothing relating to the material should be construed as a solicitation or offer, or recommendation, to acquire or dispose of any investment or to engage in any other transaction.
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Action at the DOEMarch 30, 2010 Posted by: Matt MaloneyMuch has been written and spoken about the 2009 Recovery Act and the largesse bestowed upon the Department of Energy (DOE) to stimulate the renewable energy and cleantech sectors. So how are they doing? Depending on your perspective, there is a broad range of answers. Based on an allocation of $36.7 billion from the Act that extends until September 2011, the DOE has "obligated" about 75% of that amount. Not bad, right? Well, as of the end of 2009, just 5% of those dollars have actually been delivered. There are many reasons for this and the funds should flow better in 2010. As for the Loan Guaranty Program initiated in late 2005, and expanded through the Act, to encourage innovative clean technologies, the DOE just announced a $1.37 billion award to Brightsource Energy, just the fourth such award and first since June 2009. There is a large backlog of applicants that are moving slowly through the process and there should be some new announcements soon.
The views expressed in this column are solely those of the author and do not reflect the views of SVB Financial Group, or Silicon Valley Bank, or any of its affiliates. This material, including without limitation the statistical information herein, is provided for informational purposes only. The material is based in part upon information from third-party sources that we believe to be reliable, but which has not been independently verified by us and, as such, we do not represent that the information is accurate or complete. The information should not be viewed as tax, investment, legal or other advice nor is it to be relied on in making an investment or other decisions. You should obtain relevant and specific professional advice before making any investment decision. Nothing relating to the material should be construed as a solicitation or offer, or recommendation, to acquire or dispose of any investment or to engage in any other transaction.
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