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Project Financing Innovation

NREL's Project Development and Finance team facilitates energy project financing for businesses and institutions, U.S. government agencies, states and local communities, tribes, and international entities by providing information about funding sources and developing innovative financing mechanisms.

Funding Sources

NREL helps project leaders secure financial assistance to support clean energy deployment projects through a variety of funding options.

Types of Financial Assistance

The U.S. Department of Energy's (DOE's) Office of Energy Efficiency and Renewable Energy (EERE) provides various types of financial assistance, including:

• Grants
• Cooperative agreements
• Continuation and renewal awards.

Financial assistance may be available through other organizations in EERE's funding stream. Examples of these types of funding mechanisms are:

• Subawards
• Laboratory subcontracts
• Cooperative research and development agreements.

Financial Opportunities for Energy Projects

To promote increased development and demonstration of renewable energy and energy efficiency technologies, EERE and related organizations provide financial assistance to business, industry, governments, tribes, universities, and others seeking funding for energy projects.

Learn more about technology- and program-specific financial opportunities in these EERE program areas:

• Biomass Program
• Building Technologies Program
• Distributed Energy Program
• Geothermal Technologies Program
• Fuel Cell Technologies Program
• Industrial Technologies Program
• Solar Energy Technologies Program
• Vehicle Technologies Program
• Weatherization and Intergovernmental Program
• Wind and Hydropower Technologies Program.

Other Funding Resources

For information about funding sources, visit the following Web sites:

• Alternative Fuels and Advanced Vehicles Data Center (AFDC) Laws and Incentives
• Database of State Incentives for Renewable Energy (DSIRE)
• Clean Cities—Financial Opportunities
• Grants.gov
• FedConnect.net
• Business.gov
• REFIN directory
• USA.gov: Businesses and Nonprofits.

Innovative Financing Methods

The NREL Federal Energy Management Program (FEMP) team has extensive experience in developing innovative project financing mechanisms that can be used as models for other organizations. Examples include:

• Developing the Power Purchase Agreement (PPA) template being used by the Defense Energy Supply Center renewable team

• Negotiating NREL's 750-kW photovoltaic PPA to provide power to our research facilities

• Assisting various federal agencies (including National Aeronautic and Space Administration's Jet Propulsion Laboratory, the U.S. Coast Guard, and the U.S. Department of Defense) with PPAs

• Facilitating or advising on approximately 25 utility energy services contracts (UESCs), energy savings performance contracts (ESPCs), and PPAs for federal agencies annually (in 2008, this included DOD, the Federal Aviation Administration, the Federal Bureau of Prisons, and the U.S. Department of Commerce)

• Facilitating an ESPC contract for a 100-MW concentrated solar project with an excess power sales agreement at the U.S. Department of Energy's Nevada Test Site

• Providing energy and water efficiency technical and financial project support that enabled the Labs21 Partnership Program to demonstrate new strategies for achieving high-performance laboratories

• Facilitating a wind energy project on Dyess Air Force Base through assistance with Green Power purchasing.