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Stimulus Bill Funding to be Expedited by the U.S. Department of Energy

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Feb 23, 2009, By Elaine Rundle

To accelerate the disbursement of federal funding from the stimulus bill, the U.S. Department of Energy (DOE) will reorganize how it disburses direct loans, loan guarantees and other funding outlined in the legislation.

Energy Secretary Steven Chu announced the reorganization on Feb. 19, 2009 -- two days after President Barack Obama signed the American Recovery and Reinvestment Act.

According to the DOE's Web site: "The goal of the restructuring is to expedite disbursement of money to begin investments in a new energy economy that will put Americans back to work and create millions of new jobs."

The restructuring will include:

  • Applications will be reviewed as they are submitted so that decisions can be made quickly.
  • Paperwork and loan forms will be streamlined and simplified.
  • The creation of a Web site to increase transparency of the process and results.
  • The use of outside partners to accelerate loan underwriting.
  • Using additional staff and resources to process applications.

Matt Rogers was named the senior adviser of the reorganization and implementation of terms within the stimulus bill. According to the DOE, Rogers worked on Obama's Presidential Transition Team in an effort to develop ideas that "reduce the cost and increase the use of renewable energy in federal energy procurement."

MJ

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