Good Move for jobs, the economy and environment ….
Energy Secretary Jennifer Granholm said the Biden administration will resume an Energy Department loan program that gave billions in loans to clean-energy companies during the Obama years.
In comments at the CERAWeek energy conference Wednesday, Granholm said the program “as of today, is back in business.”
“Our loan authority, $40 billion worth, has helped some of America’s bravest entrepreneurs get their best ideas off the ground and flourish into what they are today,” Granholm said, citing the program’s roles in the development of technology like photovoltaic solar batteries and Tesla’s development of electric vehicles.
“Those kinds of projects have supported thousands and thousands of jobs, and taxpayers have made that money back and then some,” she said. The loan authority existed under the Trump administration but went largely unused.
Granholm said the program would be overseen by clean energy entrepreneur Jigar Shah, who she said had “written the playbook on how to drive the market toward clean energy solutions.”…