The recent passage of the American Recovery and Reinvestment Act (ARRA), together with existing legislation such as the 2008 Farm Bill, the Energy Independence and Security Act of 2007, and the Energy Policy Act of 2005, has created unprecedented opportunities for renewable energy and clean technology companies to obtain funding from the federal government for a wide variety of energy and environmental projects. A summary of the major funding opportunities announced by the federal government during the last week can be viewed by clicking on the following links:
Funding under these programs will be awarded on a competitive basis and under tight application deadlines. Applications must contain detailed information regarding an applicant's proposal, and actual funding awards require the negotiation of detailed documentation similar to that used in complex project financings.
WilmerHale's Energy and Clean Technology practice group has extensive experience in the areas of public policy, government contracting, project finance and development, and energy regulation. We are uniquely positioned to expertly advise renewable energy and clean technology companies on the complex issues and opportunities that arise in connection with these federal funding opportunities, and to assist companies in both obtaining government funding and successfully developing their projects.
RENEWABLE AND CLEAN TECHNOLOGIES
ARL/ARO Broad Agency Announcement for Basic and Applied Scientific Research. The Department of the Army will award up to $3,000,000 per applicant for renewable energy research in various topic areas, including electrochemical power production and energy storage, power conditioning systems, micro-electromechanical systems development and photovoltaic power sources.
Advanced Water Power. The application deadline for the Advanced Water Power funding announcement has been extended.
RECENT DEVELOPMENTS RELATED TO FUNDING OPPORTUNITIES
President Announces National Fuel Economy Policy. Last week, the administration announced a collaboration between automakers, the Department of Transportation, the Environmental Protection Agency, state governments and others, which resulted in the creation of a new national policy that will increase fuel economy to 35.5 mpg by model year 2016, and reduce greenhouse gas emissions from vehicles. DOT and EPA will initiate a joint rulemaking for new vehicle standards to implement the policy.
To view the full press release, click here.
DOE Increases Funding Available Under Smart Grid Solicitations. DOE announced last week that it would increase the award ceiling per applicant from $20 million to $200 million under the Smart Grid Investment Program, and from $40 million to $100 million per applicant under the Regional Smart Grid Demonstrations Program. The agency increased the award ceilings after receiving feedback on its draft smart grid funding announcements in mid-April. In conjunction with this announcement, the National Institute of Standards and Technology (NIST) released an initial set of 16 recognized interoperability standards. The standards are the result of a consensus building workshop that took place in late April, and are anticipated to ensure that newly deployed smart grid components are interoperable and secure.