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US DOE Loan Program Financed $16 Billion in Renewables and More Coming
Renewable Energy World: The Department of Energy's Loan Programs Office (LPO) loaned $16 billion to the renewable energy projects with 85 percent going to solar projects as part of the Recovery and Reinvestment Act. Guess how much it lost during the nation’s worst recession since the Great Depression? Less then $1 billion. Overall, the LPO has about $34 billion in funds that have supported new technologies, from Tesla Motors (which paid back its $465 million loan in May) to nuclear power to new fossil fuel technologies.
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