; and (2) retooling, retrofitting, or expanding existing facilities that manufacture, or have the ability to manufacture, solar components. (d) Application To be eligible to receive a grant, loan guarantees, or direct loan under the program, an eligible entity shall submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary may require. (e) Selection In awarding grants, loan guarantees, and direct loans under the program, the Secretary shall take into consideration whether a project proposed by an eligible entity— (1) is strategically located near manufacturers in the solar component manufacturing supply chain to create a geographic concentration of manufacturers in the solar component manufacturing supply chain; (2) has potential to materially reduce the reliance of United States manufacturers on solar components, including solar grade polysilicon and photovoltaic wafers, made in a non-allied foreign nation; (3) has potential for direct and indirect domestic job creation, including jobs for low-income communities, dislocated workers, and workers from groups that are underrepresented in the manufacturing industry; and (4) will result in economic development or economic diversification in economically distressed regions or localities. (f) Direct loan conditions A direct loan made under the program shall— (1) bear interest at a rate that does not exceed a level that the Secretary determines appropriate