U.S. Energy Dept. ramps up clean energy loans ahead of Trump’s return

The United States (US) Department of Energy (DOE) has been rapidly approving loans to clean energy production companies as Trump’s return to office looms.

The incoming President has stated plans to cut off any leftover from Biden’s Inflation Reduction Act, which involves large investments towards addressing climate change in the U.S.

With Trump’s inauguration into the White House just 46 days away, the DOE has approved around $14.7 billion in new loans in the past couple of weeks alone, according to Tech Crunch.

Clean energy companies that have benefitted from new loans from the Loan Programs Office include: EOS Energy Enterprises ($303.5 million), StarPlus Energy ($7.54 billion), Sunwealth ($289.7 million) and Rivian ($6.6 billion).

Commenting on the White House’s recent investment to EOS Energy Enterprises, the U.S. Secretary of Energy, Jennifer M. Granholm, said:

“The Biden-Harris Administration has successfully implemented a new economic playbook that has boosted America’s competitive standing on the world stage as an innovation leader in the cutting-edge technologies of the future. Today’s announcement will bolster the nation’s energy security while ensuring President Biden’s manufacturing boom continues to deliver for generations to come.”