Commercial solar firm Sunwealth also closed a $289.7 million loan guarantee on Thursday to help finance the buildout of commercial solar and storage systems that will form the basis of new virtual power plants in 27 states.
LPO on Friday afternoon finalized a $996 million loan guarantee for Ioneer’s Rhyolite Ridge Lithium-Boron Project, a massive lithium and boron mining and processing facility in Nevada. That final commitment “upsized” the initial $700 million conditional commitment offered to Ioneer by DOE in early 2023.
The Biden administration offered a $1.76 billion conditional loan guarantee for GEM A-CAES, a wholly owned subsidiary of Canadian startup Hydrostor. That federal backing will help secure financing for the Willow Rock advanced compressed-air energy storage (A-CAES) project planned near the town of Rosamond in California’s eastern Kern County.
The manufacturer Calumet said the funding process is back on track for its subsidiary, Montana Renewables, which plans to expand its biofuels facility in Great Falls, Montana. The company currently makes fuel for planes and trucks using seed oils and discarded animal fats. With the expansion, the refinery will be able to produce about 315 million gallons per year, most of which will be sustainable aviation fuel, or SAF.
Researchers at the University of Virginia (UVA) received two $20 million grants from the EPA to support climate initiatives in Appalachia and Alaska. The grants aim to address pollution and carbon emissions through projects like climate-resilient housing and infrastructure enhancements. However, uncertainty surrounds the future of the funding due to an executive order signed by former President Trump, freezing the dispersal of funds from the Inflation Reduction Act. Legal challenges regarding the order are raising concerns about the continuation of these grants.
Researchers at the University of Virginia (UVA) received two $20 million grants from the EPA to support climate initiatives in Appalachia and Alaska. The grants aim to address pollution and carbon emissions through projects like climate-resilient housing and infrastructure enhancements. However, uncertainty surrounds the future of the funding due to an executive order signed by former President Trump, freezing the dispersal of funds from the Inflation Reduction Act. Legal challenges regarding the order are raising concerns about the continuation of these grants.
Madison has received a $20 million grant from the EPA to improve energy efficiency in affordable housing, part of the federal Community Change Grant Program. This funding will enhance home insulation, HVAC systems, and appliances to reduce energy costs and improve air quality, especially in low-income households. The initiative involves local organizations such as Project Home and Sustain Dane, which will also create green energy jobs. The program aims to lower energy bills, improve comfort, and promote sustainability while addressing climate change.
The case study outlines a collaboration between Solar United Neighbors (SUN) and One Roof Community Housing to provide low-income homeowners with solar energy systems using the "Direct Pay" provision of the Inflation Reduction Act (IRA). The program allows nonprofits to receive a federal tax credit refund, enabling them to install solar panels at no upfront cost to homeowners. Homeowners benefit from lower utility bills, and after five years, they will own the system with minimal maintenance responsibilities. The initiative aims to address financing challenges for low-income households while reducing carbon emissions and promoting energy equity.
The Department of Energy’s Loan Programs Office (LPO) announced the completion of its agreement to provide electric-vehicle manufacturer Rivian a loan guarantee of up to $6.57 billion. That federal backing is aimed at enabling Rivian to secure lower-cost debt financing for a second EV factory in Georgia, a $5 billion project that was delayed in March in response to continual operating losses and softness in the EV market.
The La Crosse School District has significantly cut costs by incorporating sustainable energy solutions. Three schools currently have solar panels, with a fourth set to go online soon. For example, Northside Elementary's solar array, installed in October 2022, offsets nearly 30% of the building's energy usage and is expected to save the district nearly $500,000 over its 25-year warranty period. Additionally, the district uses geothermal heating and has saved substantial amounts on energy costs. The district is also developing a Climate Action Plan to further increase sustainable energy use and cost savings.