Department of Energy
Subtitle: further actions are needed to improve DOE's ability to evaluate and implement the Loan Guarantee Program : report to congressional committees
Contributors: Rusco, F. W. (Frank W.)
Publisher: U.S. Govt. Accountability Office
Published: 2010
Place of publication: Washington, D.C.]
Language: eng
Format: [electronic resource] :
Number of pages: 31
Subjects: Rules and practice; Evaluation; Loans; Government guaranty; Energy conservation; Technological innovations; Finance; United States. Department of Energy; United States
Other titles: Department of Energy :; Further actions are needed to improve DOE's ability to evaluate and implement the Loan Guarantee Program; DOE Loan Guarantee Program
Notes: Title from cover screen (GAO, viewed July 13, 2010).

"July 2010."

Since the Department of Energy's (DOE) loan guarantee program (LGP) for innovative energy projects was established in Title XVII of the Energy Policy Act of 2005, its scope has expanded both in the types of projects it can support and in the amount of loan guarantee authority available. DOE currently has loan guarantee authority estimated at about $77 billion and is seeking additional authority. As of Apr. 2010, it had issued one loan guarantee for $535 million and made nine conditional commitments. In response to Congress' mandate to review DOE's execution of the LGP, GAO assessed (1) the extent to which DOE has identified what it intends to achieve through the LGP and is positioned to evaluate progress and (2) how DOE has implemented the program for applicants. GAO analyzed relevant legislation, prior GAO work, and DOE guidance and regulations. GAO also interviewed DOE officials, LGP applicants, and trade association representatives. GAO recommends that DOE develop performance goals reflecting the LGP's policy goals and activities; revise the loan guarantee process to treat applicants consistently unless there are clear, compelling grounds not to do so; and develop mechanisms for administrative appeals and for systematically obtaining and addressing applicant feedback.

"GAO-10-627."

Includes bibliographical references.

Mode of access: World Wide Web.

System requirements: Adobe Reader.