Geothermal

Subscribe to Geothermal via RSS

On August 12, 2010, Energy Secretary Steven Chu announced a new loan guarantee solicitation for renewable energy manufacturing projects.  The Commercial Technology Renewable Energy Manufacturing Projects solicitation (the "Solicitation") is supported by the American Recovery and Reinvestment Act (the "Recovery Act") through Section 1705 of the Loan Guarantee Program and is focused primarily on providing new green energy jobs and the deployment of renewable energy technologies that reduce greenhouse gas emissions.

The solicitation specifically identified "Eligible Projects" to include renewable energy manufacturing projects or facilities located in the United States that:

  • Manufactures Commercial Technology products that support the generation of electricity or thermal energy from renewable resources;
  • Has Project Costs greater than seventy-five million dollars ($75,000,000);
  • Is able to obtain a credit rating equivalent of "BB" or better from Standard & Poor’s or Fitch, or "Ba2" or better from Moody’s, as evaluated without the benefit of any DOE guarantee or any other credit support;
  • Will create or retain jobs in the United States; and
  • Otherwise meets all applicable requirements of Title XVII, including Section 1705, the Solicitation, including all attachments and all applicable requirements of the Recovery Act.

The Solicitation also provided, for illustrative purposes, examples of the types of Eligible Projects that may qualify, which include the following:

  • wind energy component or systems manufacturing facilities;
  • solar photovoltaic (PV) component or system manufacturing facilities;
  • concentrated solar power component or system manufacturing facilities;
  • hydropower component or system manufacturing facilities;
  • geothermal component or system manufacturing facilities;
  • other geothermal power cycle component or system manufacturing facilities; or
  • ocean wave, tidal, and river current (e.g. hydrokinetic) component or system manufacturing facilities

Continue Reading Clean Energy Jobs Focus of New Manufacturing Solicitation Issued by the DOE

On June 30, 2010, the U.S. Department of Energy ("DOE") launched its Technology Commercialization Portal (the "Portal").  The Portal is an online resource that provides a mechanism for investors, entrepreneurs and companies to identify new technologies coming out of DOE laboratories and other participating research institutions.  Relevant technologies include:

  • Advanced Materials
  • Biomass and Biofuels
  • Building Energy Efficiency
  • Electricity Transmission and

…

The U.S. Treasury Department today released on its website additional guidance regarding the "begin construction" requirement for qualifying for the 30% ARRA cash grant. To qualify for the grant, a project either must be placed in service in 2009 or 2010 or, if construction begins on or before December 31, 2010, must be placed in…

U.S. Energy Secretary Steven Chu recently announced conditional commitments to provide loan guarantees in connection with two geothermal projects located in Oregon and Nevada.  Specifically, on June 10, 2010, Secretary Chu announced that the Department of Energy offered a $102 million conditional commitment for a loan guarantee to U.S. Geothermal, Inc. to construct a 22 megawatt…

The Washington State Department of Commerce (formerly the Department of Community, Trade and Economic Development or CTED) has announced that it is attempting to revise Washington’s comprehensive energy plan (the “State Energy Strategy”). 

The State Energy Strategy was last revised in 2003, and it does not serve current energy realities and forecasts. Therefore, the Washington State Legislature has tasked the Department of Commerce with updating the State Energy Strategy while taking account the following three goals and nine principles:Continue Reading Washington Revising its State Energy Strategy

The U.S. Department of Energy (“DOE”) today announced up to $20 million for research, development, and demonstration of cutting-edge geothermal technologies. DOE want projects that demonstrate the technical and economic feasibility of certain non-conventional geothermal energy technologies, such as low-temperature fluids, geothermal fluids recovered from oil and gas wells, and highly pressurized geothermal fluids.

Specifically, the funds…

On Thursday March 11, 2010, the California Public Utility Commission (the "CPUC") created a market for tradable renewable energy credits ("TRECs") in the state.  That’s big news.  In its 149-page decision, the CPUC stated that investor-owned utilities ("IOUs"), energy service providers, and community choice aggregators may now use TRECs to comply with California’s ambitious renewable portfolio standard ("RPS").  These entities are now permitted to purchase a portion of their RPS compliance from generation sources other than those they own (e.g., distributed solar generation facilities within the state and certain out-of-state facilities).

Continue Reading Tradable RECs Now Count Toward California’s RPS

Proposed legislation in the Senate would greatly limit the effectiveness of the grant in lieu of tax credits for renewable energy projects under section 1603 of the American Recovery and Reinvestment Act.

The section 1603 grant currently applies to renewable energy projects, such as wind, solar, geothermal and biomass, that are placed in service before…

Stoel Rives would like to congratulate REC Silicon and SolarWorld on their awards of tax credits by the IRS and DOE. These two companies, combined, received over 10 percent of all the tax credits awarded nationwide under section 48C of the tax code.

On Friday, January 8, the Department of Energy awarded to 183 companies…

On January 14, the Geothermal Energy Association will host a one-day Geothermal Energy Finance Forum in New York.  Almost 30 speakers are confirmed for the Forum, including heavy hitters from investment groups and banks, geothermal energy developers, and the DOE and Treasury.  Senate Majority Leader Harry Reid (D-NV) will deliver the keynote address.  My colleague, John McKinsey…