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http://thehill.com/blogs/e2-wire/677-e2-wire/184331-energy-department-approves-737-million-loan-guarantee-for-solar-project
Energy Department approves $1B in solar energy loan guaranteesBy Andrew Restuccia - 09/28/11 01:17 PM ET
The Energy Department announced Wednesday that is has finalized more than $1 billion in loan guarantees for two separate solar energy projects.
The decision comes several weeks after Solyndra, a California-based solar manufacturer that received a $535 million loan guarantee from the Obama administration in 2009, filed for bankruptcy and laid off 1,100 workers, setting off a firestorm in Washington.
DOE announced a $737 million loan guarantee to help finance construction of the Crescent Dunes Solar Energy Project, a 110-megawatt solar-power-generating facility in Nye County, Nev. The project is sponsored by Tonopah Solar, a subsidiary of California-based SolarReserve.
The Energy Department said the project will result in 600 construction jobs and 45 permanent jobs.
“If we want to be a player in the global clean energy race, we must continue to invest in innovative technologies that enable commercial-scale deployment of clean, renewable power like solar,” Energy Secretary Steven Chu said in a news release. “Solar generation facilities, like the Crescent Dunes Solar Energy Project, help supply energy to local utilities and create hundreds of good, American clean energy jobs.”
RELATED ARTICLES
Lawmaker demands independent Solyndra probe
The Crescent Dunes facility will generate power using concentrated solar power technology, in which a series of mirrors direct sunlight onto a receiver at the center of the plant.
The Energy Department also announced that it had finalized a separate $337 million loan guarantee to Sempra Energy for a 150-megawatt photovoltaic solar-generation project in Arizona.
The project will result in 300 construction jobs, DOE said.
The Solyndra loan guarantee, unlike the two announced Wednesday, was used for a solar panel manufacturing facility.
The decision to finalize the loan guarantees comes just days before the Energy Department’s advanced energy loan-guarantee program, which was funded under the 2009 stimulus law, expires. The department is hoping to make a final decision on about 10 other projects by Sept. 30.
Republicans in Congress have raised concerns that the Energy Department will be forced to rush the final review of the projects because of the tight deadline. But top Energy Department officials said they will not approve any projects without subjecting them to detailed analysis.
The Solyndra controversy has cast a shadow over the Energy Department’s loan-guarantee program, which provides financing for renewable energy, advanced biofuels and electric power transmission projects.
Republicans allege that the administration missed a series of warning signs that hinted at Solyndra’s financial troubles.
Republicans on both the House Oversight and Government Reform and Energy and Commerce committees have launched investigations into the loan-guarantee program as a result of the Solyndra bankruptcy.
The Justice Department and other federal agencies are also investigating Solyndra.
A couple of comments that make you go hmmmm....
110 MW is a piss ant of a power plant, read below....
let’s say you went really big, and you created a solar array somewhere in the U.S. the size of five hundred football fields (roughly a square mile). How much power would you get? The answer is roughly 150 MW, and only during the day when the sun is out. A typical power plant produces about 750 MW. So supplanting one power plant would require five square miles of panels. This is not compelling.
Supplanting our entire electrical supply with solar would require turning the entire state of South Carolina into one large solar panel. Or...maybe we should stick them out in the desert. Seems logical. Senator Feinstein has proposed paneling over 500,000 acres of the Mojave Desert. But again, we run into mundane practical problems, even before considering things like the environmental impact of covering that much land. When solar panels collect dust and grime, they lose much of their effectiveness, so they must be cleaned frequently. Where, exactly, are we going to get the water needed for cleaning in the middle of the desert? And who’s going to be out there wiping down 500,000 acres of panels?
The taxpayers have to put up $737 million. But wait, there are supposedly 45 permanent jobs created. Even if this number is true (it is probably inflated) it is still $16.4 million per job just for the loan guarantee
Nancy Pelosi’s Brother-in-Law No. 2 at PCG.
Energy Department approves $1B in solar energy loan guaranteesBy Andrew Restuccia - 09/28/11 01:17 PM ET
The Energy Department announced Wednesday that is has finalized more than $1 billion in loan guarantees for two separate solar energy projects.
The decision comes several weeks after Solyndra, a California-based solar manufacturer that received a $535 million loan guarantee from the Obama administration in 2009, filed for bankruptcy and laid off 1,100 workers, setting off a firestorm in Washington.
DOE announced a $737 million loan guarantee to help finance construction of the Crescent Dunes Solar Energy Project, a 110-megawatt solar-power-generating facility in Nye County, Nev. The project is sponsored by Tonopah Solar, a subsidiary of California-based SolarReserve.
The Energy Department said the project will result in 600 construction jobs and 45 permanent jobs.
“If we want to be a player in the global clean energy race, we must continue to invest in innovative technologies that enable commercial-scale deployment of clean, renewable power like solar,” Energy Secretary Steven Chu said in a news release. “Solar generation facilities, like the Crescent Dunes Solar Energy Project, help supply energy to local utilities and create hundreds of good, American clean energy jobs.”
RELATED ARTICLES
Lawmaker demands independent Solyndra probe
The Crescent Dunes facility will generate power using concentrated solar power technology, in which a series of mirrors direct sunlight onto a receiver at the center of the plant.
The Energy Department also announced that it had finalized a separate $337 million loan guarantee to Sempra Energy for a 150-megawatt photovoltaic solar-generation project in Arizona.
The project will result in 300 construction jobs, DOE said.
The Solyndra loan guarantee, unlike the two announced Wednesday, was used for a solar panel manufacturing facility.
The decision to finalize the loan guarantees comes just days before the Energy Department’s advanced energy loan-guarantee program, which was funded under the 2009 stimulus law, expires. The department is hoping to make a final decision on about 10 other projects by Sept. 30.
Republicans in Congress have raised concerns that the Energy Department will be forced to rush the final review of the projects because of the tight deadline. But top Energy Department officials said they will not approve any projects without subjecting them to detailed analysis.
The Solyndra controversy has cast a shadow over the Energy Department’s loan-guarantee program, which provides financing for renewable energy, advanced biofuels and electric power transmission projects.
Republicans allege that the administration missed a series of warning signs that hinted at Solyndra’s financial troubles.
Republicans on both the House Oversight and Government Reform and Energy and Commerce committees have launched investigations into the loan-guarantee program as a result of the Solyndra bankruptcy.
The Justice Department and other federal agencies are also investigating Solyndra.
A couple of comments that make you go hmmmm....
110 MW is a piss ant of a power plant, read below....
let’s say you went really big, and you created a solar array somewhere in the U.S. the size of five hundred football fields (roughly a square mile). How much power would you get? The answer is roughly 150 MW, and only during the day when the sun is out. A typical power plant produces about 750 MW. So supplanting one power plant would require five square miles of panels. This is not compelling.
Supplanting our entire electrical supply with solar would require turning the entire state of South Carolina into one large solar panel. Or...maybe we should stick them out in the desert. Seems logical. Senator Feinstein has proposed paneling over 500,000 acres of the Mojave Desert. But again, we run into mundane practical problems, even before considering things like the environmental impact of covering that much land. When solar panels collect dust and grime, they lose much of their effectiveness, so they must be cleaned frequently. Where, exactly, are we going to get the water needed for cleaning in the middle of the desert? And who’s going to be out there wiping down 500,000 acres of panels?
The taxpayers have to put up $737 million. But wait, there are supposedly 45 permanent jobs created. Even if this number is true (it is probably inflated) it is still $16.4 million per job just for the loan guarantee
Nancy Pelosi’s Brother-in-Law No. 2 at PCG.
“We the people are the rightful masters of both Congress and the courts, not to overthrow the Constitution but to overthrow the men who pervert the Constitution.” Abraham Lincoln
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