This paper analyzes the importance of the Department of Energy's Loan Guarantee Program in helping innovative renewable energy projects cross the "valley of death." As of January 2011, the loan program has provided conditional commitments to 11 innovative renewable energy projects. Though this marks significant progress, the program is only now starting to fulfill its potential. With its scheduled September 2011 expiration, the loan program will soon lose much of its effectiveness – and the U.S. will lose a main tool for developing important innovative energy technologies.
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