The administration of Joe Biden, president of the United States of America has now issued the first clean energy loan guarantee, along with reviving an program of that has been helping the launch of the first utility-scale wind energy and solar energy farms in the country a decade ago but the country has gone dormant in the recent years.
The Energy Department of the United States said that, it is going to guarantee of around 1 billion dollars in the loans for the purpose of helping a company based in Nebraska that has been scaling up the production of the clean hydrogen for the purpose of converting the natural gas into the commercial products that are used in the agriculture and manufacturing industries.
The revived program of the loans has been a part of the effort of Joe Biden for the purpose of decreasing the emissions of the greenhouse cases by the year 2030 amid the legislative gridlock, which has been stalled at a package of 2 trillion dollars of the environmental and social initiatives of the company, it has been among the tools which the government of the United States can possibly use without the new legislation.
Under the former president Barack Obama, the program has boosted the efforts of Tesla for becoming a behemoth in the electric vehicles, but the company has now been stumbling after the solar energy company ‘Solyndra’ based in California has been failed costing the taxpayers over 500 million dollars.
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