Department of Energy

The Department of Energy (DOE) has provided $38 million in funding for 13 green energy technology projects in American Indian and Alaska Native communities. The DOE funds will help increase energy security, reduce energy costs, and provide electric power investments for Native communities across the US.

Sunnova Energy International, a low-cost solar and energy provider, has entered into a $3.0 billion partial loan guarantee agreement with the U.S. Department of Energy's (DOE) Loan Programs Office (LPO).

The Department of Energy (DOE)'s Loan Programs Office has given a $398.6 million conditional loan to Eos Energy Enterprises, a battery storage manufacturer. The funding will support Eos Energy's Turtle Creek, Pennsylvania, grid-scale BESS manufacturing facility, which is expected to produce over 8GWh of storage capacity per year.

The Inflation Reduction Act was finally signed into law after more than a year of negotiations last August. West Virginia Senator Joe Manchin (D), the deciding vote, lengthened discussions by insisting on capital being made available for retrofitting coal and oil plants, creating carbon capture projects, and adding emission control technologies.

A Ford Motor Company joint venture has received a $9.2 billion conditional loan from the Department of Energy's Loan Programs Office (LPO) to finance three battery plants in Tennessee and Kentucky. The JV, BlueOval SK LLC, brings together Ford and SK On, a Korean EV battery manufacturer.

KORE Power, battery storage and EV solutions company, was awarded a conditional commitment loan of $850 million by the Department of Energy's Loan Programs Office (LPO) for an advanced battery cell manufacturing facility in Buckeye, Arizona.

Big businesses have begun to move on carbon capture while the US government spurs advancements in the emerging sector through its Bipartisan Infrastructure Law’s (BIL) tax credits, loans and grants.