The renewable-energy sector got a boost on Oct. 7 when the Dept. of Energy announced it will expand its loan guarantee program to commercial renewable-energy projects under the Energy Policy Act of 2005. DOE also unveiled a new Financial Institution Partnership program (FIPP) to expedite the agency’s loan-guarantee underwriting process and leverage private-sector expertise in funding eligible projects. Renewable-energy advocates say by expanding the loan-guarantee program to cover commercial, rather than just “innovative” projects, DOE will enable more renewable-energy projects to be built. But, they add, Congress should restore the $2 billion diverted from the loan-guarantee program to pay for
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.