As initially announced in the February 2023 notice of intent, the guidance sets out the eligibility requirements, general application requirements and process, procedures for processing applications, allocation of funding for eligible projects in the event of oversubscription, and funding restrictions. The guidance document describes the application process and the information necessary for the Secretary of Energy to make incentive payments to the owners and authorized operators of qualified hydroelectric facilities at existing dams to be used to make capital improvements in the facilities that are directly related to improving the efficiency of such facilities by at least three percent pursuant to section 243 of EPAct 2005. Under the statute, the incentive payments include the following limitations: an incentive payment shall not exceed 30 percent of the costs of the applicable capital improvement(s); no more than one incentive payment may be made to a single qualified hydroelectric facility in any fiscal year; and that shall not exceed $5,000,000. The guidance is available at: https://www.energy.gov/gdo/section-243-hydroelectric-efficiency-improvement-incentives-program.