The Geothermal Loan Guaranty Program: Recommendations for Improvement Including New Simplified Application Procedures for Small Projects
- Key words
- Economics; USA; Loan Guarantee Program; Legislative Recommendation; Regulatory Charges
- Conference
- Geothermal Resources Council Transactions
- Year
- 1980
- Session
- Economics; Financing; Energy policy; Laws and regulations
- Language
- English
Abstract
The Geothermal Loan Guaranty Program was established by Congress in 1974 to assist industry with the financing requirements for the development of commercialization of geothermal energy. It was only the substantive Federal aid program to an emerging technology at that time. Yet in six years (as of April 1980) only four projects have been approved for a loan guaranty, three of which are electric projects and one is a small direct thermal application. Many small business/small project energy producers, developers, and users have found or concluded that they cannot qualify for a geothermal loan guaranty. This paper reports the results and recommendations of a compressive evaluation of the GLGP from the perspective of the small business/small project entrepreneur and from the practices of the small to medium sixe lending institutions. The findings are divided into administrative, regulatory and legislative recommendations.
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