Build More Power Act

Summary#

This bill, the Build More Power Act, amends the Energy Policy Act of 2005 to expand and target loan guarantee authority for electric generating facilities. It adds a new subsection that treats energy infrastructure ordered to generate power under section 202(c) of the Federal Power Act as having "ceased operations" for purposes of eligibility for energy infrastructure reinvestment financing. When the Secretary issues a section 202(c) order, the Department of Energy must solicit applications for loan guarantees for projects tied to that infrastructure. For any section 202(c) orders already in effect at the time the bill becomes law, the Secretary must solicit such applications within 60 days.

The bill extends the deadline for availability of funds and commitment authority from 2028 to 2032 in two related statutory provisions. It also amends a 2022 provision to require that at least $20,000,000,000 of the total principal amount available under that program be set aside to guarantee loans for projects tied to facilities required to generate electric energy by a section 202(c) order. Finally, the Secretary of Energy must report to Congress within one year on guarantees made during the first year after enactment, the electric capacity added by those projects, the total principal amount of guarantees during that year, and recommendations to encourage upgrades to aging coal facilities.

What it means for you#

  • If you own or operate an electric generating facility that the government orders to run under section 202(c), the Department of Energy must solicit loan guarantee applications for reinvestment projects tied to that facility.
  • The period during which guarantee funds and commitment authority are available is extended through 2032.
  • At least $20 billion of guarantee authority from an existing program is reserved for projects connected to facilities required to run under section 202(c).
  • The Department of Energy must report to Congress within a year about guarantees, added capacity, and recommendations about upgrading aging coal facilities.
  • No information in the bill text explains direct effects on electricity rates, employment, or local communities.

Expenses#

  • The bill specifies a set-aside of at least $20,000,000,000 for loan guarantees for projects tied to facilities required to generate under section 202(c).
  • The bill extends existing program authorities through 2032 but does not provide other specific dollar amounts or a full federal cost estimate.
  • No publicly available information on overall federal budgetary effects or projected spending beyond the $20,000,000,000 set-aside is included in the bill text.

Proponents' View#

No publicly available information.

Opponents' View#

No publicly available information.