By Matthew Daly, Associated Press
U.S. News & World Report
The Energy Department said it would guarantee up to $1 billion in loans to help a Nebraska company scale up production of “clean” hydrogen to convert natural gas into commercial products used in manufacturing and agriculture.
The revived loan program is part of President Joe Biden’s efforts to slash planet-warming greenhouse gas emissions in half by 2030, amid legislative gridlock that has stalled a $2 trillion package of social and environmental initiatives. It’s among the tools he can use without new legislation. Read more here.
Research paper Daly references in the article, published by Energy Science & Engineering:
How green is blue hydrogen?, by Robert W. Howarth and Mark Z. Jacobson
Loan Programs Office (LPO)
LPO has more than $40 billion in loans and loan guarantees available to help deploy large-scale energy infrastructure projects in the United States. Over the past decade, LPO has closed more than $30 billion of deals across a variety of energy sectors.
- Open For Business: LPO Issues New Conditional Commitment for Loan Guarantee, by Jigar Shaw, Director of DOE’s Loan Programs Office
- Monolith Receives Conditional Approval For A One-Billion-Dollar U.S. Department of Energy Loan, Monolith News Release, PR Newswire
- DOE unveils $1B loan for hydrogen plant. But is it ‘clean’?, by David Iaconangelo, E&E News, Energy Wire
- NPPD seeing high interest in renewable projects for Monolith, Nebraska Public Power District News Release
DEPARTMENT OF ENERGY’S HYDROGEN SHOT
The Department of Energy’s first Energy Earthshot, launched June 7, 2021—Hydrogen Shot—seeks to reduce the cost of clean hydrogen by 80% to $1 per 1 kilogram in 1 decade.
The Hydrogen Shot establishes a framework and foundation for clean hydrogen deployment in the American Jobs Plan, which includes support for demonstration projects. Industries are beginning to implement clean hydrogen to reduce emissions, yet many hurdles remain to deploying it at scale.
Achieving the Hydrogen Shot’s 80% cost reduction goal can unlock new markets for hydrogen, including steel manufacturing, clean ammonia, energy storage, and heavy-duty trucks. This would create more clean energy jobs, reduce greenhouse gas emissions, and position America to compete in the clean energy market on a global scale. These efforts would ensure that environmental protection and benefits for local communities are a priority.
GREEN HYDROGEN NEWS
Raffi Garabedian spent a dozen years developing solar panel technology at First Solar, a photovoltaics company that currently has a market value around $8 billion. The technologist then went on to co-found clean hydrogen start-up Electric Hydrogen, which he’s currently building out as its CEO.