Department of Energy: New Loan Guarantee Program Should Complete Activities Necessary for Effective and Accountable Program Management

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DIANE Publishing, 2009 - 62 pages
Title XVII of the Energy Policy Act of 2005 established DoE┐s loan guarantee program (LGP) for innovative energy projects that should decrease air pollutants or greenhouse gases and that have a reasonable prospect of repayment. For FY 2008 and 2009, Congress authorized the use of borrower fees to pay the costs of loan guarantees; DoE will limit loan guarantees to $38.5 billion. Congress mandated this review of DoE┐s progress in assessing progress in: (1) issuing final regulations; and (2) taking actions to help ensure that the program is managed effectively and to maintain accountability. Also assessed how inherent risks due to the nature of the LGP may affect DoE┐s ability to achieve intended program outcomes. Includes recommendations. Illus.

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