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Loan Guarantees Will Help Create New Jobs while Fostering Clean Energy Innovation Washington, DC - U.S. Energy Secretary Steven Chu announced today that the Department of Energy will provide up to $30 billion in loan guarantees, depending on the applications and market conditions, for renewable energy projects. Another $750 million will support several billion dollars more in loan guarantees for projects that increase the reliability, efficiency and security of the nation's transmission system. The two new loan guarantee solicitations announced today are being funded partly through the Recovery Act and partly through 2009 appropriations.

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How about a power station in your basement? In a bid to create a decentralized electricity grid, German carmaker Volkswagen is launching thousands of mini power plants that could be installed in the basements of any residential home. Together with clean energy provider Lichtblick, Volkswagen plans to install up to 100,000 small power plants -- able to generate heat and electricity -- in people's homes to generate enough energy to offset two nuclear power plants. Taken together, all mini plants would have a capacity of 2 GW. The project could lure many Germans away from traditional utilities toward decentralized energy generation, which experts say will be the buzzword of tomorrow's energy mix.

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