Biden accelerates clean energy loans before Trump takes office

The Biden administration is rushing to finalize $25 billion in clean energy loans through the Department of Energy before President-elect Donald Trump, who opposes many green initiatives, assumes office in January.

Benjamin Storrow, Kelsey Tamborrino, Brian Dabbs and Jessie Blaeser report for POLITICO.

In short:

• Biden’s Department of Energy Loan Programs Office is pushing to finalize major loans for projects like EV battery factories and charging infrastructure, hydrogen plants and lithium mining before Trump takes office.
• There are 16 loans and loan guarantees that have yet to be completed.
• The loans support Biden's goals of reducing emissions and dependence on China, but Trump’s administration could halt or rescind deals.
• With most projects located in Republican districts, proponents hope bipartisan benefits might save them from cuts.

Key quote:

“There’s nothing like seeing your own coffin to get you moving faster.”

— Andy Marsh, CEO of the hydrogen company Plug Power.

Why this matters:

The future of clean energy development and U.S. climate goals could hinge on whether these loans are secured. A Trump administration shift could stall or redirect funding, affecting both environmental progress and regional economies.