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ARTICLE · 03 FEBRUARY 2023

DOE Loan Programs Office: 2023 Updates, Overview And Key Insights

Holland & Knight
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Following the first two years of the Biden Administration, and fresh off of the successful passage of the Inflation Reduction Act (IRA) and the Infrastructure Investment and Jobs Act (IIJA), the U.S. Department of Energy Loan Programs Office (LPO) is flush with new funds.

United StatesEnergy and Natural Resources
Taite McDonald
Taite McDonald
Mark Kalpin
Mark Kalpin
Daniel Brown
Daniel Brown
Reese Goldsmith
Reese Goldsmith
Katherine Hantson
Katherine Hantson
James Steinbauer
James Steinbauer
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Highlights

  • In August 2022, the Inflation Reduction Act (IRA) greatly expanded the lending authority of the U.S. Department of Energy (DOE) Loan Programs Office (LPO) for a total of nearly $412 billion in lending capacity.
  • LPO funding programs have experienced legislative and administrative changes enabling more innovative clean technology companies, as well as tribal governments, to apply for funds through the IRA, Infrastructure Investment and Jobs Act (IIJA) and the Energy Act of 2020.
  • Over the past year, the LPO has begun to execute Conditional Commitments and close loan transactions. However, though LPO is again funding low-interest rate loans to clean technology projects that might not receive traditional commercial bank financing, the loan programs are highly complex and have limitations that interested companies should thoroughly evaluate if they intend to pursue loan applications.

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