United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2007-02-28 monographic deposited born digital 46 p. GA 1.13:GAO-07-339R https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-339R P0b002ee18039ec74 f:d07339r DGPO 2010-08-12 2011-03-24 GAOREPORTS-GAO-07-339R machine generated eng fdlp REPORT GAOREPORTS-GAO-07-339R GAO-07-339R Alternative energy sources Budget outlays Cost analysis Eligibility determinations Government guaranteed loans Loans Program evaluation Risk assessment Cost estimates Policies and procedures Program goals or objectives Correspondence A66357 In May 2006, the Department of Energy (DOE) proposed transferring appropriations from some DOE accounts to begin a new loan guarantee program (LGP) authorized by the Energy Policy Act of 2005 (EPAct 05). Title XVII of EPAct 05--Incentives for Innovative Technologies--authorized the LGP to guarantee loans for projects intended to (1) decrease air pollutants or man-made greenhouse gases by reducing their production or by sequestering them (storing them to prevent their release into the atmosphere), (2) employ new or significantly improved technologies compared with current commercial technologies, and (3) have a "reasonable prospect" of repayment. Such projects could include renewable energy systems, advanced fossil energy technologies, and production facilities for fuel-efficient vehicles. Although EPAct 05 authorized the LGP, the Federal Credit Reform Act of 1990 requires that Congress appropriate budget authority for loan guarantee program costs before loans can be made. In appropriating budget authority for the LGP, Congress would be not only authorizing DOE to issue the loan guarantees but also establishing policy by setting limits on the dollar amount of loans that can be guaranteed. Congress can also specify limits on the amount of LGP administrative costs DOE can incur each year. In this context, you asked that we report on the (1) sources and use of funds for the LGP in fiscal years 2006 and 2007, (2) extent to which the LGP could result in a financial risk to taxpayers, and (3) steps DOE has taken to ensure that the LGP will be well managed. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-339R/html/GAOREPORTS-GAO-07-339R.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-339R/pdf/GAOREPORTS-GAO-07-339R.pdf GAO-07-339R https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-339R Correspondence GAO-07-339R; The Department of Energy: Key Steps Needed to Help Ensure the Success of the New Loan Guarantee Program for Innovative Technologies by Better Managing Its Financial Risk; Alternative energy sources Budget outlays Cost analysis Eligibility determinations Government guaranteed loans Loans Program evaluation Risk assessment Cost estimates Policies and procedures Program goals or objectives