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SolarCity US DOE loan approval fails
PVTech ^ | 9/26/11 | Mark Osborne

Posted on 09/26/2011 9:12:48 AM PDT by martin_fierro

SolarCity US DOE loan approval fails

According to news reports, US-based solar installation firm, SolarCity will not be able to complete and comply with documentation deadlines of September 30th to be considered for a US Department of Energy loan, previously announced.

Earlier this month, the DOE had made a conditional commitment for a partial loan guarantee to SolarCity for PV system installations on residential and other buildings at US military bases. The US$344 million loan would go towards 371MW of new solar power generation capacity.

The project, code named SolarStrong, will be led by SolarCity, with USRG Renewable Finance acting as lead lender in partnership with Bank of America Merrill Lynch.

Only last week, First Solar fell foul of the same deadline due to its inability to meet documentation deadlines.

The US DOE has come under the political spotlight since the collapse of CIGS thin film producer, Solyndra and a loan of over US$500 million.


TOPICS: News/Current Events
KEYWORDS: 201109; 20110930; bankofamerica; boondoggle; doe; firstsolar; greenjobs; loanguarantee; merrilllynch; renewablefinance; solarcity
Ruh Roh.
1 posted on 09/26/2011 9:12:50 AM PDT by martin_fierro
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To: martin_fierro

I visited the City of Austin Solar farm.

It is what it is. 390 acres to produce 30 MW max.

Granted the land was not that valuable and the greens feel good.


2 posted on 09/26/2011 9:23:52 AM PDT by hadaclueonce ("Endeavor to persevere.")
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To: martin_fierro

*cough*ownedbyarepublican*cough*


3 posted on 09/26/2011 9:28:32 AM PDT by pabianice (")
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To: martin_fierro

Unfreakinbelievable! Another Half Billion Dollars fraudulently being given to Obama’s Fellow Thugs! Let’s do a background check on this stinking Company! Have they ever even sold a panel before??


4 posted on 09/26/2011 9:33:59 AM PDT by True Republican Patriot (May GOD SAVE OUR AMERICA from ALLAH and his Prophet, HUSSEIN OBAMA!!)
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To: martin_fierro
The loans and the Solar Farms are only part of the GREEN BOONDAGLES. Read below.

Looked at a Solar Panel site a few days ago and used its Payback Calculator, which was very enlightening. I live in New York state near Albany and punched in the required data re my house. The calculator’s output indicated a $25,750 “Cost of Panels and Installation” HOWEVER, these were offset by $7,725 Federal Tax Credits, $8,750 “NYSERDA State Solar Grant” and $4,250 “Residential State Income Tax Credit” which combined for $20,725 in government subsidies and resulted in a net installation cost of $5,025 to the homeowner.
Utilizing these figures above,if 100,000 New York state homeowners took chose to avail themselves of the solar company offer:
a.)The total panels and installations business would generate $2,5750,000,000 in revenues;
b.) it would cost the state’s taxpayers $1,300,000,000, budget must be balanced;
c.) and cost the Federal Government $772,500,000, taxes or borrowings!

Loans may or may not be paid back, but movement tax credits and subsidies are taken from your and your children's pockets.

NYSERDA is a independent state of New York State agency which has been administered by highly paid ex-politicians and their civil servant associates.

5 posted on 09/26/2011 10:11:27 AM PDT by BilLies
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To: hadaclueonce

I guess the only thing you can say is....good start. Below is an idea of how much land is required to generate the equalivent power of a normal sized power plant.

There’s around 800MW of total Nameplate Capacity for all Solar Power in the US, around as much as for one medium sized coal fired plant. If all those Solar Plants produced at their maximum, which by the way means that a way has to be found to make the Sun shine for all night as well as all day, then they could deliver around 600Million KWH of power. They actually delivered 143 million KWH of power to the grids they are connected to. This gives them a power delivery efficiency of 23.8%, effectively meaning they too can only deliver their power for around 6 hours of each day. The rolling 6 month percentage only comes in at 13.1%, or around 3 hours a day.


6 posted on 09/26/2011 10:54:19 AM PDT by Recon Dad ("Don't forget, incoming fire has the right of way..")
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To: BilLies

a.)The total panels and installations business would generate $2,5750,000,000 in revenues;
b.) it would cost the state’s taxpayers $1,300,000,000, budget must be balanced;
c.) and cost the Federal Government $772,500,000, taxes or borrowings!

.....but how many Chicoms could we keep employed....they don’t care if it’s stupid.


7 posted on 09/26/2011 10:56:59 AM PDT by Recon Dad ("Don't forget, incoming fire has the right of way..")
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To: martin_fierro

The cynic in me says that if Solyndra hadn’t imploded the paperwork problems with these projects would have been dismissed and they would’ve gotten approved...


8 posted on 09/26/2011 11:08:24 AM PDT by BWDog
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To: Recon Dad

As a Reliability Coordinator, I would rather have solar than Wind Generators.


9 posted on 09/26/2011 11:36:19 AM PDT by hadaclueonce ("Endeavor to persevere.")
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To: hadaclueonce

As a Reliability Coordinator.........

That’s like saying I’d rather have skin cancer than prostate cancer. Wind and solar are both horrible alternatives.


10 posted on 09/26/2011 11:44:04 AM PDT by Recon Dad ( I'm not a vegetarian, but I eat animals who areĀ”)
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