I 

111TH CONGRESS 

1ST SESSION H. R. 3836 

To authorize the Secretary of Energy to provide credit support to enhance 

the availability of private financing for clean energy technology deployment. 

IN THE HOUSE OF REPRESENTATIVES 

OCTOBER 15, 2009 

Mr. ISRAEL introduced the following bill; which was referred to the Committee 

on Energy and Commerce 

A BILL 

To authorize the Secretary of Energy to provide credit support to enhance the availability of private financing for 

clean energy technology deployment. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. INDIRECT SUPPORT. 

4 (a) IN GENERAL.—For the purpose of enhancing the 

5 availability of private financing for clean energy tech6 nology deployment, the Secretary of Energy may— 

7 (1) provide credit support to portfolios of tax8 able debt obligations originated by State, local, and 

9 private sector entities that enable owners and users 

10 of buildings and industrial facilities to— 


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1 (A) significantly increase the energy effi2 ciency of such buildings or facilities; or 

3 (B) install systems that individually gen4 erate electricity from renewable energy re5 sources and have a capacity of no more than 2 

6 megawatts; 

7 (2) facilitate financing transactions in tax eq8 uity markets and long-term purchasing of clean en9 ergy by State, local, and nongovernmental not-for10 profit entities, to the degree and extent that the Sec11 retary of Energy determines such financing activity 

12 is appropriate and consistent with carrying out the 

13 purpose described in subsection (b); and 

14 (3) provide credit support to portfolios of tax15 able debt obligations originated by State, local, and 

16 private sector entities that enable the deployment of 

17 energy storage applications for electric drive vehi18 cles, stationary applications, and electricity trans19 mission and distribution. 

20 (b) PURPOSE.—The purpose of this program is to 

21 promote access to affordable financing for accelerated and 

22 widespread deployment of— 

23 (1) clean energy technologies; 

24 (2) advanced or enabling energy infrastructure 

25 technologies; and 


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1 (3) energy efficiency technologies in residential, 

2 commercial, and industrial applications, including 

3 end-use efficiency in buildings. 

4 (c) DEFINITIONS.—For purposes of the section: 

5 (1) CLEAN ENERGY TECHNOLOGY.—The term 

6 ‘‘clean energy technology’’ means a technology re7 lated to the production, use, transmission, storage, 

8 control, or conservation of energy— 

9 (A) that will contribute to a stabilization of 

10 atmospheric greenhouse gas concentrations 

11 thorough reduction, avoidance, or sequestration 

12 of energy-related emissions and— 

13 (i) reduce the need for additional en14 ergy supplies by using existing energy sup15 plies with greater efficiency or by transmit16 ting, distributing, or transporting energy 

17 with greater effectiveness through the in18 frastructure of the United States; or 

19 (ii) diversify the sources of energy 

20 supply of the United States to strengthen 

21 energy security and to increase supplies 

22 with a favorable balance of environmental 

23 effects if the entire technology system is 

24 considered; and 


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1 (B) for which, as determined by the Ad2 ministrator, insufficient commercial lending is 

3 available at affordable rates to allow for wide4 spread deployment. 

5 (2) CREDIT SUPPORT.—The term ‘‘credit sup6 port’’ means— 

7 (A) direct loans, letters of credit, loan 

8 guarantees, and insurance products; and 

9 (B) the purchase or commitment to pur10 chase, or the sale or commitment to sell, debt 

11 instruments (including subordinated securities). 

12 (3) DIRECT LOAN.—The term ‘‘direct loan’’ has 

13 the meaning given the term in section 502 of the 

14 Federal Credit Reform Act of 1990 (2 U.S.C. 661a). 

15 (4) LOAN GUARANTEE.—The term ‘‘loan guar16 antee’’ has the meaning given the term in section 

17 502 of the Federal Credit Reform Act of 1990 (2 

18 U.S.C. 661a). 

19 (5) RENEWABLE ENERGY RESOURCE.—The 

20 term ‘‘renewable energy resource’’ means each of the 

21 following: 

22 (A) Wind energy. 

23 (B) Solar energy. 

24 (C) Geothermal energy. 

25 (D) Renewable biomass. 


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1 (E) Biogas derived exclusively from renew2 able biomass. 

3 (F) Biofuels derived exclusively from re4 newable biomass. 

5 (G) Hydropower. 

6 (H) Marine and hydrokinetic renewable en7 ergy, as that term is defined in section 632 of 

8 the Energy Independence and Security Act of 

9 2007 (42 U.S.C. 17211). 

10 (d) TRANSPARENCY.—The Secretary of Energy shall 

11 seek to foster through its credit support activities— 

12 (1) the development and consistent application 

13 of standard contractual terms, transparent under14 writing standards and consistent measurement and 

15 verification protocols, as applicable; and 

16 (2) the creation of performance data that pro17 motes effective underwriting and risk management 

18 to support lending markets and stimulate the devel19 opment of private investment markets. 

20 (e) EXEMPT SECURITIES.—All securities insured or 

21 guaranteed by the Secretary of Energy shall, to the same 

22 extent as securities that are direct obligations of or obliga23 tions guaranteed as to the principal or interest by the 

24 United States, be considered to be exempt securities withVerDate Nov 24 2008 03:16 Oct 17, 2009 Jkt 089200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\H3836.IH H3836

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1 in the meaning of the laws administered by the Securities 

2 and Exchange Commission. 

Æ 


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