DOE Invites Ubiquitous Energy to Complete Second Part of its Loan Guarantee Program
Ubiquitous Energy, a technology company developing transparent solar technology for architectural glass, has been invited to submit Part II of its application to the U.S. Department of Energy's Title XVII Loan Guarantee Program. The proposed loan guarantee would support the development of the company’s U.S.-based transparent solar window manufacturing facility and hundreds of new clean technology jobs, say officials.
“We are thrilled to have been invited to submit a Part II application for the DOE’s highly competitive Title XVII Loan Guarantee Program. This opportunity will allow us to accelerate the commercialization of our innovative transparent solar technology and bring it to market faster,” says Susan Stone, CEO at Ubiquitous Energy. “We look forward to working with the Department of Energy to continue driving the transition to a clean energy economy.”
What is the loan guarantee, and what does it support?
The Title XVII Loan Guarantee Program helps support the deployment of decarbonization technologies navigating the last mile to commercialization, providing them with access to needed loans and loan guarantees. To date the program has provided more than $25 billion in loan guarantees and currently has approximately $62 billion in available loan guarantee authority to accelerate the commercial deployment of innovative energy technologies.
Ubiquitous Energy’s UE Power technology produces solar electricity and integrates into standard windows.
With the built environment generating 40 percent of annual global CO2 emissions and the global building floor area expected to double by 2060, there is a need for zero-emissions energy sources to power the present and propel the future, say officials. Meanwhile, the financial incentives and job creation opportunities enabled by the Inflation Reduction Act of 2022 further enhance the DOE’s investment in innovative and commercially viable renewable energy solutions.
