Executive Summary / Abstract
The primary mission of the U.S. Department of Energy (DOE) is to advance the national, economic and energy security of the United States. DOE’s Loan Programs Office (LPO) was created to accelerate the domestic commercial deployment of innovative and advanced clean energy technologies at a scale sufficient to contribute meaningfully to this mission. LPO is able to accomplish its goals by guaranteeing loans to eligible clean energy projects (i.e., agreeing to repay the borrower’s debt obligation in the event of a default) and by providing direct loans to eligible manufacturers of advanced technology vehicles and components. The LPO also has a fiduciary obligation to U.S. taxpayers, and must ensure that the loans and loan guarantees provided have a reasonable prospect of repayment.
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