21st Century Energy Technology Deployment Act

Bill: 111-hr-2212
Sponsor: Rep. Inslee, Jay [D-WA-1]
Introduced: 2009-04-30 in the House
Policy area: Energy
Subjects: Advisory bodies
Alternative and renewable resources
Appropriations
Department of Energy
Electric power generation and transmission
Energy efficiency and conservation
Environmental technology
Executive agency funding and structure
Government lending and loan guarantees
Technology transfer and commercialization

Summary:
action_date: 2009-04-30
text: 
21st Century Energy Technology Deployment Act - Establishes in the Treasury the Clean Energy Investment Fund, consisting of: (1) amounts appropriated for administrative expenses to implement a loan guarantee program that provides incentives for innovative technologies; and (2) amounts deposited in or appropriated for the Fund.
 
Amends the Energy Policy Act of 2005 to revise provisions concerning such program, including by revising the definition of &quot;commercial technology,&quot; requiring payments from the borrower to not be a debt obligation that is made or guaranteed by the federal government, and requiring fees collected under such program to be deposited into the Fund (currently, the Treasury).
 
 
Directs the Secretary of Energy (DOE), after consultation with the Energy Technology Advisory Council of the Clean Energy Deployment Administration (both established by this Act), to develop and publish for review and comment near-, medium-, and long-term goals for the deployment of clean energy technologies through the credit support programs established by this Act to establish or promote specified energy generation, transmission, and use and energy technology manufacturing capacities.
 
Allows the Administration to issue direct loans, letters of credit, loan guarantees, insurance products, or such other credit enhancements or debt instruments (including through participation as a co-lender or a member of a syndication) to deploy clean energy technologies. Requires the Administration to: (1) establish an expected loan loss reserve to account for estimated losses; and (2) develop financial products and arrangements to promote the widespread deployment of, and mobilize private sector support of credit and investment institutions for, clean energy technologies through securitization, indirect credit support, or other similar means of credit enhancement. Authorizes the Administration to lend on the security of, and make commitments to lend on the security of, any debt that it has issued or is authorized to purchase. Describes the Administration's lending and credit authorities. Authorizes the Secretary to delegate to the Administration the provision of financial services and program management for grant, loan, and other credit enhancement programs.
 
Requires biannual reports to Congress on the technologies supported and on Administration performance. Requires the Administration to report annually and quarterly to the Secretary on its financial conditions and operations.


Legislative actions:
action_date: 2009-05-05
text: Referred to the Subcommittee on Energy and Environment.
action_date: 2009-05-04
text: Referred to the Subcommittee on Energy and Environment.
action_date: 2009-04-30
text: Referred to House Science and Technology
action_date: 2009-04-30
text: Referred to the Committee on Energy and Commerce, and in addition to the Committee on Science and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2009-04-30
text: Referred to House Energy and Commerce
action_date: 2009-04-30
text: Introduced in House
action_date: 2009-04-30
text: Introduced in House