The term "new or significantly improved technology" refers to energy-related technologies that are not yet commercially available. This includes technologies that have been recently developed or that offer substantial enhancements in productivity or value compared to existing commercial technologies. These advancements can relate to the production, consumption, or transportation of energy.
This term is primarily used in the context of energy regulations and loan guarantees provided by the Department of Energy. It is relevant in legal practices involving energy innovation, financing for new technologies, and environmental law. Users may encounter this term when dealing with loan applications or grants aimed at promoting innovative energy solutions. Legal forms related to these applications can be found through resources like US Legal Forms.
Here are a couple of examples of abatement:
Example 1: A company develops a new solar panel technology that increases energy efficiency by 30% compared to currently available models. This would qualify as a new or significantly improved technology.
Example 2: A startup creates a novel method for storing energy that has only recently been discovered and shows promise for widespread use in the energy market. (hypothetical example)
Examples of state differences (not exhaustive):
| State | Regulatory Focus |
|---|---|
| California | Strong emphasis on renewable energy technologies. |
| Texas | Focus on energy efficiency improvements. |
| New York | Support for innovative energy solutions through state grants. |
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
| Term | Definition | Key Differences |
|---|---|---|
| Commercial Technology | Technologies that are widely available for sale and use. | Commercial technologies are established and available, while new technologies are still in development or testing. |
| Innovative Technology | Technologies that introduce new methods or ideas. | Innovative technology may include both commercial and non-commercial technologies, while "new or significantly improved technology" specifically excludes commercial technologies. |
If you believe you have developed or are working with a new or significantly improved technology, consider applying for funding or loan guarantees through the Department of Energy. You can explore US Legal Forms for templates that can assist you in preparing your application. If the process seems complex, seeking professional legal assistance may be beneficial.
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It must be related to energy and either newly developed or provide significant enhancements compared to existing technologies.