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Thread: Energy department gives loans

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    Join Date
    Jun 2008
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    12-26-10 @ 05:57 PM

    Energy department gives green loans

    After Four Years, Energy Department Makes First ‘Green’ Loan - Bits Blog -

    Quote Originally Posted by Article
    The Department of Energy has tentatively awarded its first alternative-energy loan guarantee, breaking a four-year logjam in the federal loan program.

    The $535 million loan guarantee will go to Solyndra Inc., which said it would use the money to expand its production of photovoltaic systems at its facilities in Fremont, Calif. The company said that the federal loan guarantee would cover roughly 75 percent of the project costs and would ultimately produce thousands of new construction, manufacturing and installation jobs.

    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.


    But the new energy secretary, Steven Chu, has made it a priority to begin releasing the guarantees to help meet the administration’s twin goals of creating jobs and developing carbon-free sources of power
    A smart move... allowing for the production of a massive green energy source while simultaneously putting a lot of money into a "green job" sector that will only grow with time.
    Last edited by Orion; 03-23-09 at 05:34 AM.

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