The U.S. Energy Department on Wednesday unveiled a plan for up to $4 billion in loan aid for renewable energy companies to help rejuvenate a program that faced harsh political attacks over past failures of federally subsidized projects.
The Obama administration's draft plan would provide loan guarantees for innovative projects that limit or avoid greenhouse gas emissions.
It will specifically focus on advanced electric grid technology and storage, biofuels for conventional vehicles, energy from waste products and energy efficiency.
Earlier this month, the DOE announced it had revamped the review process for its automotive loan program in hopes of attracting new applicants.
The move followed an offering last year of up to $8 billion in loan assistance for fossil fuel projects that reduce greenhouse gas emissions.
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