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Most Energy Loan Applicants ‘Aren’t Ready,’ DOE Official Says

May 5, 2022, 6:34 PM

The Biden administration is “working tirelessly” to get loans to emerging energy technologies such as critical minerals, hydrogen, and nuclear fusion, but most applicants are unprepared for the required scrutiny, the director of the Energy Department’s Loan Programs Office said Thursday.

“The biggest challenge is that most people aren’t ready for our money,” Jigar Shah said during a virtual conversation with Axios.

“To date, I would say we haven’t really been slow,” he said. “They [applicants] are the ones who have had a hard time getting all the checklists completed.”

DOE’s Jigar Shah
Photographer: Greg Kahn for Bloomberg Green

The Loan Programs Office is working through applications after the ...