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Thursday, 13 October 2011

4 Solar Loans Guarantees By Obama in US

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. And today, on the 30th of September 2011, Obama's administration has released 4 solar energy loans of a 5 billion dollars value within a loan program.

1 of the loans went to a project recently sold by a well-recognised solar energy manufacturer called "First Solar Inc." which is based in Arizona. This manufacturer has been originally seeking 3 loans in order to fund 3 solar energy projects in California.

If we go back a little in time, we can find out that a loan of 528 million dollars has been credited to a bankrupt solar panel maker called Solyndra Inc. by Obama's administration within the same program these 4 loans were released. Their approval on this loan has caused major problems and critics despite their good initiation to boost the green energy program advancement.

The good thing is that these billion dollars valued loans are going to hopefully push the American solar energy scene to compete against China and other countries that have already made large hops in this domain. These efforts will also help decrease the solar energy's costs on the long term and help America take over the renewable energy leadership like it did in several other domains.

Maybe you want to have a better idea about the 4 different loans issued and to which manufacturer they went, here take a glance:

- A 1.4 billion dollar went to the favour 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 favour 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.

These were the different 4 loans! It's really great to watch the worldwide solar energy scene grow in front of our eyes thanks to these projects. I hope that one day we can achieve a global and total solar energy usage to help the next generations live in clean healthy environment.

Story Basma J. 1st Oct 2011
Green Energy WA

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