Sen. Murkowski introduces bill to improve access to loan guarantee program to finance local energy infrastructure
Sen. Lisa Murkowski (R-AK) introduced Monday legislation to improve access to the Department of Energy’s (DOE) Section 1703 loan guarantee program to help states secure financing for projects that will reduce energy costs and greenhouse gas emissions.
The bill would make certain state financing entities fully eligible for Section 1703 program.
Murkowski included the text of the legislation in energy bills in the 114th and 115th Congresses.
“Right now, the Department’s loan guarantee program is tailored more toward large projects, which inadvertently shuts out the projects needed in many smaller and rural communities,” Murkowski said. “My goal here is to level the playing field so that state entities can access the loan guarantee program, bundle a number of smaller projects together, and then make them a reality to reduce local costs and emissions.”
Last week, the Committee on Energy and Natural Resources, which Murkowski chairs, held a hearing on the role of energy innovation in economy and international competitiveness. The committee heard testimony on the challenges of funding new projects, particularly in rural areas.
