The Government Banker Channeling Billions Into Clean Energy

The Journal.

The Wall Street Journal

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🗓️ 13 June 2023

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jigar Shah wants to change the nation’s energy future. He runs a crucial but little-noticed piece of the Biden administration’s strategy to address climate change, the Energy Department’s Loan Programs Office. And Shah presides over its giant pot of money to lend to companies. We speak with Shah about where he thinks the private sector is falling short in funding green energy and why he thinks the government has a role to play. Further Reading: - Green Investments Stuck Between Rising Risk and Government Backing - Energy Department Commits $3 Billion to Expand Rooftop Solar Access - Climate Funding Gets Squeezed by Volatile Markets Further Listening: - An Energy CEO on the Winding Path to a Green Grid Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	What's the wallpaper we have?
0:08.0	Oh, it's stars. This is my Suns bedroom. We have the best acoustics in this room.
0:14.0	So you from your Suns bedroom and me from my closet will have a conversation.
0:19.0	Exactly. It's all about padding. Sound acoustics.
0:24.0	Awesome.
0:26.0	This is Jigger Shaw and we called him on a day he was working from home.
0:31.0	He's the director of the Lone Programs Office at the Department of Energy,
0:35.0	where his job is to loan out an enormous pot of money around $400 billion.
0:42.0	The goal is financing the country's newest green energy projects,
0:47.0	jump-starting things like electric car battery manufacturing and hydrogen fuel.
0:53.0	Did you always want to work in government?
0:57.0	Never. This is my first role in government and I'm still surprised I'm here.
1:02.0	You know what I mean? I just love the idea of all these new cool technologies
1:10.0	that we invented, frankly, back in the 70s, actually finding their success.
1:18.0	The loans coming from Shaw's office could have a major role in shaping America's energy future.
1:25.0	I really do think we're going to look back at this moment in time and think this is when America got its mojo back.
1:36.0	Welcome to the journal, our show about money, business, and power. I'm Kate Leibhaw. It's Tuesday, June 13th.
1:49.0	Coming up on the show, the person in charge of a $400 billion program to make green energy happen.
2:06.0	The scientists of today are creating the next big thing.
2:10.0	On the Wall Street Journal's Future of Everything podcast, get an early listen to what tomorrow has in store.
2:16.0	Find us wherever you get your podcasts.
2:28.0	The Department of Energy's Loan Programs Office has been around for many years.
	...

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