Department of Energy: Status of Loan Programs

US Government Accountability Office
http://www.gao.gov/products/GAO-13-331R

As of January 29, 2013, Department of Energy (DOE) was considering using $15.1 billion of the $34.8 billion in remaining loan guarantee authority for loan guarantees requested by 13 active Loan Guarantee Program (LGP) applications. According to DOE officials, the agency planned to use all of the remaining $170 million in credit subsidy appropriations to support active applications for energy efficiency and renewable energy projects. DOE considered an additional 27 LGP applications requesting a total of $73 billion to be inactive. The loan guarantee authority and credit subsidy appropriations do not expire.

In addition, as of January 29, 2013, DOE was not actively considering any applications for using the remaining $16.6 billion in loan authority or $4.2 billion in credit subsidy appropriations available under the Advanced Technology Vehicles Manufacturing (ATVM) loan program. DOE considered the seven ATVM loan program applications it has, requesting a total of $1.48 billion, to be inactive for reasons including insufficient equity or technology that is not ready. Most applicants and manufacturers we spoke with told us that, currently, the costs of participating outweigh the benefits. Although the ATVM loan program is accepting applications on an ongoing basis, according to DOE officials, DOE is not likely to use the remaining ATVM loan program authority given the current eligibility requirements. As with the LGP, the loan authority and credit subsidy appropriations for ATVM do not expire…

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