DOE Awards First Clean Energy Loan Guarantee to Solyndra

After a four-year-long freeze on loan guarantees for renewable energy programs, the Department of Energy has finally issued one to lucky Solyndra, Inc.

The solar company will use the $535 million guarantee to expand its photovoltaic production. The company specializes in solar panels that can lay flat on rooftops instead of at an angle, allowing greater roof coverage. The money, which will cover 75 percent of the cost of the expansion, will also allow the creation of new construction, manufacturing and installation jobs.

The guarantee still has to pass final approval, but once production begins, the resulting solar PVs will be able to generate 15 GW of power and prevent 300 million metric tons of CO2 emissions.

Since projects like this fulfill the administration's goal of producing more renewable energy and more jobs, the DOE is scurrying to get dozens of additional loan guarantees approved in the next few weeks.

via Green Inc.

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written by money trail, March 27, 2009

Follow the money trail to the person/persons in the Department of Energy who are getting a cut from this initiative. Check for home upgrades, new vehicle purchases, holidays at expensive resorts, etc.

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written by Bob Wallace, March 27, 2009

Money Trail...

Perhaps your warning has a slight bit of validity.

After all, Bush left a lot of his unethical Republican appointees behind in our governmental offices. It will take a few years to disgorge them and put decent people in their place.

In the meantime we may well see more of the robbing of the public treasury that characterized the first eight years of the century.

Time will tell
written by Brian, March 27, 2009

As with anything, time will tell if the new team is really genuinely different than their predecessor. That is to say, one must look beyond the apogee of talk and look carefully at what people do by way of action. Politicians love to tell us what we desperately want to hear while all the time knowing that they have no intention of the program succeeding. Case and point for the previous administrations claims to put real dollars into getting America off its addiction to foreign oil. The loan guarantee program was funded for 1.4 billion in loan guarantees by the Federal Government. To date not one dime had been lent to any group for anything. We liked what we herd and congress rose to its feet and clapped for a full minute yet the application put forward by Sam Bodeman was 100 pages long and required a 150,000 dollar application fee. You tell me who is being disingenuous? It only hurts us in the long run as we fall further behind the rest of the world. Vestas wind corporation with the help of the Dutch government has grown into a 20 billion dollar a year industry. Americans are missing one of the greatest economic resnesiances in history so the same crusty of farts can maintain their stranglehold on energy. How does that affect every American-one the power is much lower and when it comes to competition every dollar counts. It the power produced in these countries is 30-40 percent lower consumers will purchase the goods which are much cheaper and more friendly to the environment leaving the United States further isolated. You remember that when you half starved children come to you after you have been out of work for years and tell them that we had politicians that could not tell the truth and by the way, they put you in debt and your kids and their kids to pay for their greedy excesses.

Brilliant
written by Greg Steele, March 30, 2009

The government is propping-up a company with an innovative product to help it prepare for large demand that will be created by the incentives in the proposed budget. After the money given to prop-up the banking, insurance and un-innovative automobile industry this seems like money well spent to me.

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written by Fred, July 09, 2009

thats a great advancement for solyndra

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DOE Awards First Clean Energy Loan Guarantee to Solyndra

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