Skip to comments.New round of U.S. green energy loans?
Posted on 04/06/2012 7:05:42 AM PDT by kcvl
WASHINGTON, April 6 (UPI) -- The U.S. Energy Department said it is preparing to approve more federal loan guarantees for green energy projects.
The development comes amid controversy over the Obama administration's clean energy investments, after California solar-panel firm Solyndra, recipient of a $535 million U.S. Department of Energy loan guarantee, went bankrupt last year.
Developers of about three dozen projects in the loan guarantee pipeline but that weren't approved in time for last year's Sept. 30 deadline are eligible for loan guarantees under a separate program that funds innovative clean energy projects, the department said.
Energy Department loan program chief David Frantz, in a letter Thursday to U.S. Sen. Jeff Bingaman, D-N.M., chairman of the Committee on Energy and Natural Resources and Sen. Lisa Murkowski, R-Alaska, ranking member of the Committee on Energy and Natural Resources, said the department expects to begin issuing conditional commitments over the next several months "after completing a rigorous internal and external review of each application."
Projects selected for funding would be "subject to a robust monitoring effort to ensure that taxpayers' investments are protected," he wrote.
He said the number of projects and amount of loan guarantees depends on the "government's assessment of the risk level of the projects selected."
In his letter Frantz defended the Energy Department loan program, saying it has "helped the United States keep pace in the fierce global race for clean energy technologies."
(Excerpt) Read more at m.upi.com ...
Doing the same thing over and over again, and expecting a different result.........insanity...............
Those loans, he said, support American clean energy projects expected to provide power to nearly 3 million households and are creating tens of thousands of jobs.
What utter BS! I will never forgive the people who voted this clown into office.
Nobel Prize Winner Offers $100,000 For App That Already Exists
Cutting edge at the Department of Energy.
The Department of Energy announced Thursday a $100,000 prize for software developers to come up with mobile applications to tell consumers how much energy they are using
But theres already an app for that.
A quick scan of the iTunes and Android markets shows nearly two dozen existing applications that accomplish the same purpose helping users keep track of their energy consumption at home.
David G. Frantz, Director, Title XVII Loan Guarantee Program, Department of Energy
Does the H of Reps have to approve spending like this ?
The Caithness Shepherds Flat wind farm in eastern Oregon features 338 turbines spread across two counties. The project is supporting thousands of jobs beyond the 1,000 construction workers on site. The project will utilize 15 suppliers in nine states to fulfill orders for the 845 megawatt wind farm, including General Electric assembly facilities in Pensacola, Florida and Tehachapi, California.
By any measure, the Energy Departments loan programs have helped the United States keep pace in the fierce global race for clean energy technologies. Over the past three years, the loan programs have invested in some of the worlds biggest, most innovative, and most ambitious clean energy projects to date, supporting a balanced portfolio of American clean energy projects that are creating tens of thousands of jobs nationwide and are expected to provide power to nearly three million U.S. households.
Either they already did, back in 2009-10, or because they are ‘LOAN GUARANTEES’, THEY DON’T REQUIRE IT............I don’t know........