The U.S. Department of Energy (DOE) has announced a $4 billion loan guarantee program to lower greenhouse gas emissions in the United States. LED lighting projects will qualify for the program.
To qualify for the loans, projects must meet one of the following requirements: renewable energy systems; efficient electrical generation, transmission and distribution technologies; or efficient end-use energy technology (LEDs qualify as an efficient end-use energy technology).
Applicants should have a project that is market-ready, replicable and would not likely be fully financed on a long-term basis by commercial banks.
The DOE loan program is primarily geared toward renewables. LEDs are increasingly being incorporated with renewable technologies such as solar energy, and are helping to make renewable technologies more viable. The efficiency and reduced costs of solar-powered LEDs means they have already started to outperform electrical grid wiring in applications such as road and bus shelter lighting all the way from Boston to Abu Dhabi.
The primary opportunity for LED lighting in this federal loan guarantee program lies in its compliance with the efficient end-use category. LEDs use 80% less energy than standard incandescent lighting. Not only that, but the advanced programing capabilities and rapid “on/off” switching of LEDs lend themselves to home automation projects and use in intelligent lighting projects aimed to reduce energy usage.
LEDs are more efficient than other light sources because the vast majority of energy they use is transferred into light rather than heat. With an estimated 17% of the total energy used in commercial and residential sectors in 2012 going to lighting, the potential for LED energy savings across the nation is enormous.
Initial applications for the federal guaranteed loan programs are due October 1, 2014, along with a $50,000 fee for the first phase of the DOE loan guarantee program’s evaluation process. If the project passes evaluation, additional fees and submissions will be required on a per-project basis.
More information can be found here: Renewable Energy and Efficient Energy Projects Loan Guarantee Solicitation.
Do you have any more questions about LED lights? We’d love to discuss LED strip lighting possibilities with you whenever you’re ready.
The post $4 Billion DOE Loan Program Includes LED Lighting Projects appeared first on Flexfire LEDs Blog.
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