The Energy Infrastructure Reinvestment Program: Federal financing for an equitable, clean economy

The report analyzes the US Department of Energy's Energy Infrastructure Reinvestment (EIR) program, which provides low-cost loans to repurpose energy infrastructure. It demonstrates that using EIR to refinance remaining coal plant balances and fund new clean energy assets can significantly reduce costs for ratepayers. Case studies of Alliant in Iowa and Ameren in Missouri show potential net present value (NPV) savings of $124 million and $413 million, respectively, compared to traditional utility financing. The report emphasizes the urgency for utilities to apply before the September 2026 approval deadline.

• The Energy Infrastructure Reinvestment (EIR) program, administered by the Department of Energy’s Loan Programs Office (LPO), has a $5 billion credit subsidy appropriation and the authority to provide up to $250 billion in loans.
• EIR loans are designed to be highly affordable, with borrowing costs priced just above US Treasury bond yields, and can cover up to 80 percent of total project costs with tenors reaching up to 30 years.
• The program has a strict statutory deadline requiring loan approvals by the end of September 2026, although project construction and disbursements can continue through 2031.
• In Missouri, using EIR to refinance the $513 million cost of Ameren's Rush Island coal plant and a portion of its clean energy assets could save ratepayers $413 million in NPV terms compared to traditional utility financing.
• For Ameren in Missouri, EIR financing for coal plant cost recovery is more cost-effective than securitization, offering lower transaction costs, lower interest rates, and longer loan tenors.

APA

RMI (2024). The Energy Infrastructure Reinvestment Program: Federal financing for an equitable, clean economy. https://rmi.org/resources/the-energy-infrastructure-reinvestment-program-federal-financing-for-an-equitable-clean-economy/

Chicago

RMI. The Energy Infrastructure Reinvestment Program: Federal financing for an equitable, clean economy. 2024. https://rmi.org/resources/the-energy-infrastructure-reinvestment-program-federal-financing-for-an-equitable-clean-economy/.

Wikipedia

{{cite report |author=RMI |title=The Energy Infrastructure Reinvestment Program: Federal financing for an equitable, clean economy |date=16 February 2024 |url=https://rmi.org/resources/the-energy-infrastructure-reinvestment-program-federal-financing-for-an-equitable-clean-economy/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{rmi2024energy, author = {{RMI}}, title = {{The Energy Infrastructure Reinvestment Program: Federal financing for an equitable, clean economy}}, institution = {RMI}, year = {2024}, month = feb, url = {https://rmi.org/resources/the-energy-infrastructure-reinvestment-program-federal-financing-for-an-equitable-clean-economy/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }