§2703 Loans for Project Costs

Summary

The Secretary can make loans that pay up to 75% of the costs for small hydroelectric projects. Loans can go to cities, electric co-ops, development agencies, nonprofits, or other people. The Secretary must find that the project will be built at an existing dam, that all federal, state, and local permits are already issued, and that the project will not cause significant harm to the environment, fish and wildlife, recreation, stream flow, or other uses of the water. The Secretary will give priority to applicants who have no other suitable funding and whose projects will teach useful things about how well these projects generate and use energy. Applicants must give the Secretary information about the equipment and services they plan to use. The Secretary can stop items he finds too costly, ineffective, or inconsistent with the program’s goals. Information provided will be public unless it is covered by confidentiality under section 796(d) of title 15. The Secretary must encourage eligible parties to join together on the same project when the law allows.