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Exploring Commercial Technology: Legal Definitions and Implications
Definition & Meaning
Commercial technology refers to any technology that is widely used in the commercial marketplace in the United States at the time a Term Sheet is issued by the Department of Energy (DOE). For a technology to be considered in general use, it must be installed and operational in three or more commercial projects across the country, with each project utilizing the technology for at least five years. This definition is important for projects seeking loan guarantees from the DOE, as it sets a standard for the maturity and reliability of the technology involved.
Table of content
Legal Use & context
The term "commercial technology" is primarily used in the context of energy and environmental law, particularly regarding loan guarantees for innovative projects. It plays a crucial role in applications for funding from the DOE, where the reliability and proven track record of the technology are evaluated. Users can manage their applications and related documentation through legal forms that facilitate compliance with DOE requirements.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
Example 1: A solar panel technology that has been installed in multiple commercial solar farms across the U.S. and has been operational for over five years would qualify as commercial technology.
Example 2: A wind turbine design that has been used in various wind energy projects for a minimum of five years can also be classified as commercial technology.
Relevant laws & statutes
Commercial technology is defined under 10 CFR 609.2, which outlines the criteria for loan guarantees for projects employing innovative technologies. This regulation is part of the broader framework governing energy assistance and innovation funding.
Comparison with related terms
Term
Definition
Key Differences
Innovative Technology
A new or novel technology that may not yet be widely adopted.
Commercial technology must be in general use, while innovative technology may not be.
Proven Technology
A technology that has demonstrated its effectiveness in real-world applications.
Proven technology may not meet the installation requirements of commercial technology.
Common misunderstandings
What to do if this term applies to you
If you are considering applying for a DOE loan guarantee, ensure that your technology meets the criteria for commercial technology. Review the documentation requirements and consider using US Legal Forms' templates to streamline your application process. If your situation is complex, it may be beneficial to consult with a legal professional for tailored advice.
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