The White House has reintroduced an Energy Department loan guarantee program to help finance clean energy projects in the oil and coal industries, the New York Times reported Thursday.Diane Cardwell writes the move comes as the federal government is issuing environmental policies intended to reduce carbon emissions at power plants.
DOE’s subsidy program was established during the Bush administration to encourage the private sector to adopt anti-pollution technologies, according to the report.
“We partner with industry developers and entrepreneurs to demonstrate a new technology at industrial scale or utility scale, and hopefully once that technology is proven by deployment at scale, we step out of the way,†Peter Davidson, executive director of the DOE loan program, told the Times.
The program does not require congressional approval, Cardwell writes.
