The U.S. Department of Energy (DOE) has confirmed a $504.4 million loan guarantee to the Advanced Clean Energy Storage (ACES) project in Utah, the first DOE loan guarantee for a project involving new clean energy technology in almost ten years.
The money will go toward the world's largest hydrogen storage center, in addition to other projects.
“Since President Biden’s first day in office, DOE has made it a priority to leverage the potential of the Loan Programs Office to fund emerging technologies that will deploy clean and reliable energy to Americans,” Secretary of Energy Jennifer Granholm said in a DOE news release this week.
She also identified the goals of the program.
“Accelerating the commercial deployment of clean hydrogen as a zero-emission, long-term energy storage solution is the first step in harnessing its potential to decarbonize our economy, create good paying clean energy jobs and enable more renewables to be added to the grid," Granholm said in the release.
Other government officials commented on the plan as well.
“I’m pleased to see DOE support Utah’s efforts to become a world leader in hydrogen,” U.S. Sen. Mitt Romney said in the release. “This is not only a win for Millard County and Utah, but it is also an important step toward developing new energy technologies as we utilize an ‘all of the above’ approach to meet our energy demands.”
Congressional leaders noted the value of Utah's natural resources.
“Utah has a wealth of natural resources that make it an ideal location for clean energy innovation,” U.S. Rep. John Curtis said. “It is exciting to see the ACES project secure funding from the Department of Energy and move one step closer to completion. Hydrogen can, and should, play a large role in powering our society and I am appreciative of Secretary Granholm supporting this important project.”
Other members of Congress discussed the significance of domestic energy production.
“It has never been more important to develop domestic energy here in the United States,” U.S. Rep. Chris Stewart said. “I’m so pleased to see Utah’s great technical abilities and resources being used to do just that, and I look forward to continuing to work with President Biden and Secretary Granholm to advance America’s energy agenda.”
