Agency: Department of Energy – Grid Deployment Office
Description:
Loans “for the construction or modification of electric transmission facilities” in the national interest.
Bill Section:
50151
US Code:
42 USC 18715
New or Existing:
New
Potential Cost:
$2,030,000,000
Timeline:
FY22-30
Implementation Status/Rulemaking:
On December 19, 2023, DOE released final guidance for the National Interest Electric Transmission Corridor designation process. The deadline for public submission of information and recommendations is February 2, 2024. DOE anticipates releasing a preliminary list of NIETC designations in Spring 2024: Source
TCS Notes:
To be eligible for a direct loan, a transmission project would need to be located in a National Interest Electric Transmission Corridor (NIETC). DOE may designate an area as an NIETC if it meets certain criteria, such as promoting energy security or enabling the use of intermittent energy sources such as wind and solar.
Supplemental appropriations of $2 billion provided, but CBO budget authority estimate is $2.03 because of its “expectation that subsidy costs will exceed the budget authority allocated for loans or loan guarantees when the federal government is a counterparty to a project.”