4 Solar Energy Loans Guarantees Of 5B$ Released By Obama’s Administration
Solar energy is regaining more importance and recognition over the days and recently, governments have begun taking huge leaps in this domain by encouraging and pushing solar energy companies forward. Today, on the 30th of September 2011, Obama’s administration has released four solar energy loans of a 5-billion dollar value within a loan program.
One of the loans went to a project recently sold by a well-recognized and Arizona-based solar energy manufacturer called “First Solar Inc.”. This manufacturer has been originally seeking three loans in order to fund three solar energy projects in California.
If you’ll observe in the past, there was an instance where a loan of 528 million dollars has been credited to a bankrupt, solar-panel maker company, Solyndra Inc. by Obama’s administration within the same program these four loans were released. The approval on this loan has caused major issues and criticisms despite their good motives to boost the green energy program advancement.
The good thing, though, is that these billion-dollar-valued loans are hopefully going to urge the American solar energy scene to compete against China and other countries that have already made a huge name in the solar industry. These efforts will also help decrease the solar energy’s costs in the long run and help America to take control of renewable energy and resources, just as they did with several other industries.
To have a better insight, listed below are the four different loans that were issued with the respective manufacturers:
- A 1.4 billion dollar went to the favor of Prologis Inc. (based in san Francisco) to help them complete their project consisting of installing 750 solar rooftops in 28 different American states.
- A 1.2 billion dollars went to SunPower Corp. (based in San Jose) to complete their project of performing a 250 Megawatt plant in California.
- A total of 646 million dollars benefited Exelon Corp. (based in Illinois) and is going to help them perform a solar energy plant in Los Angeles of 230 megawatt.
- 1.5 billion dollar went to the favor of a group of investors that acquired a ready solar farm of 550 megawatt located in southern California which originally belonged to First Solar Inc.
It’s reassuring how the global solar energy scene is growing as time goes by. Thanks to these projects and I hope that one day we can all contribute by supporting the use of total solar energy to help the next generations to come, live in a clean and healthy environment.
Story by Basma J. 1st Oct 2011
Green Energy WA