Loan guaranty programs: energy applications. A study of past experience and recommendations

Technical Report · Fri Apr 01 04:00:00 EST 1977

OSTI ID:7212592

In recent years Congress has undertaken to stimulate private investment in public programs through the guaranteed loan and other off-budget methods of funding in order to reduce the burden on the American taxpaper. Guaranteed loans outside the budget in FY 1977 are estimated at $174.6 billion. Current loans annually guaranteed now average $48 billion each year. Although the guaranteed loan is a time-honored device used to spur housing, investment in less-developed countries, rural development, small business, and transportation, it has rarely been used in new technologies and almost never in energy-related technology. This study was undertaken to aid in the creation and administration of guaranteed loan programs to be undertaken by the Energy Research and Development Administration in the production or conservation of energy. The study seeks to take advantage of the experience of other U.S., state, and foreign government loan guaranty programs. Its purposes are to examine the history and applicability of existing loan programs to energy technologies, to consider variations and supplements to conventional guaranteed loan programs, and to suggest guidelines for loan guaranties which will prove acceptable to issuers, banks and investment banks, and other lenders. Because this study has spanned the transition between two presidential administrations, its findings are vulnerable to the changing perceptions of the underlying energy problem as well as the appropriate use of off-budget funding.

• Research Organization: Harbridge House, Inc., Boston, Mass. (USA)
• OSTI ID: 7212592
• Report Number(s): TID-27700
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
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Demonstration
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BUDGETS
ECONOMICS
ENERGY CONSERVATION
ENERGY SOURCE DEVELOPMENT
FINANCING
GOVERNMENT POLICIES
INVESTMENT
LEGISLATION
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PRODUCTION