Odd Lots Jigar Shah on the Pathway to Clean, Cheap, and Abundant Energy
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Oct 6, 2023 Jigar Shah, Head of the Loan Programs Office at the Department of Energy, is championing the accelerated commercialization of clean energy technologies through significant funding from the Inflation Reduction Act. He shares insights on innovative financing for energy projects and the challenges of navigating risk and profit. The discussion highlights Texas's renewable energy advancements, the potential revival of nuclear power through small modular reactors, and the urgent need for infrastructure development to support a sustainable energy future.
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LPO's Purpose
- The Loan Programs Office (LPO) helps companies commercialize clean energy technologies.
- It addresses the difficulty of securing commercial debt for first-of-a-kind projects.
LPO's Expanded Capacity
- The LPO's loan authority has increased significantly, from roughly $40 billion to nearly $400 billion.
- A substantial portion, $250 billion, targets infrastructure refurbishment, attracting considerable interest.
Building Trust
- Jigar Shah aims to build trust with companies, especially those hesitant to utilize government loans.
- He acknowledges the challenge of persuading some companies, particularly in the oil and gas sector, to use the LPO.