Chu puts environmental DOE spending on fast track

[wtmusic]

"Secretary Steven Chu has made hasty work of shaking up the Department of Energy. Today the agency announced a series of reforms designed to expedite the dispersal of loans and loan guarantees — changes that the DOE says will position it to start offering loan guarantees from a much-delayed loan guarantee program by late April or early May. The agency also said in today’s release that new loan guarantees will be offered under the stimulus legislation by early summer, and at least 70 percent of its share of the stimulus will be dispersed by the end of 2010.

This means new allotments for the smart grid, advanced batteries, alternative-fuel vehicles and the array of clean energy initiatives supported by the stimulus will likely avoid languishing in the kind of multiyear application and evaluation process used for the $25 billion low-interest loan program for fuel-efficient vehicles and the Loan Guarantee Program for clean energy technologies."

http://money.cnn.com/news/newsfeeds/gigaom/green/2009_02_19_chu_unveils_doe_changes_timeline_for_stimulus_spending.html

Tesla to get $350M loan in 4-5 months...rock on!

[stuntcat]

1. k for Chu :)

:headbang: think I like him