Solar Energy and the DOE

The Department of Energy recently announced that  Solyndra Inc., a solar energy company based in Fremont, Calif., will receive $535 million.  This is the DOE’s  first alternative-energy loan guarantee, which “break[s] a four-year logjam in the federal loan program.”

According to Scientific American Magazine, “the company plans to use the money to ramp up production of its cylindrical, thin-film solar panels that lie flat on rooftops.”

Also according to a New York Times article, the $535 million will accomodate for rughly 75 percent of future projects costs, and this movement has the potential to create a consortium of jobs, ranging from construction, manufacturing and installation.  “Once the panels are installed and producing power, the company said, they will generate up to 15 gigawatts of electricity and save some 300 million metric tons of carbon dioxide emissions.”

This loan guarentee must still be finally approved before any money can be dispersed or earmarked, for a program that was initially approved by Congress in 2005.  “The application process has been hindered by bureaucratic inertia and lengthy reviews of hundreds of applications for more than $40 billion in loan guarantees.”

It is extremely important to impose oversight regarding these loans to ensure that the money goes into the technology and materials necessary to promote a modern solar energy acquisition.  In times of economic stagnation and environmental conflict (global warming), these sorts of legislation and proposals are pragmatic strategies to lift a nation out of the subsoil and into the playing fields.  It is important to act with haste, while also organizing proper management to assure that the monies are directed smoothly and the technology is utilized at ahigh threshold.

Picture by Solyndra Inc.

Picture by Solyndra Inc.

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~ by jrn320afigueroa on March 22, 2009.

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