U.S. Offers $535 Million Loan Guarantee to Solar Panel Manufacturer
Articles — By forcechange on March 23, 2009 7:41 am
Energy Secretary Steven Chu announced on Friday that the federal government would be offering a $535 million loan guarantee to solar panel manufacturer Solyndra. The California based company will use the funds to widely expand its photovoltaic panel manufacturing capacity.
The loan guarantee is the first to be offered under the Energy Policy Act of 2005. During the Bush Administration the program was bogged down by Energy Department bureaucracy, as well as congressional foot dragging.
The money for this loan guarantee comes from appropriations from the Obama stimulus package. “The leadership and actions of President Barack Obama, Energy Secretary Steven Chu and the U.S. Congress were instrumental in concluding this offer for a loan guarantee,” said Solyndra CEO and founder, Dr. Chris Gronet.
Solyndra’s new facilities will eventually produce solar panels capable of producing 500 megawatts a year.
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The Detroit Big 3 (Who are fronts for the oil companies), the banks (Who conduit the oil company money) and AIG (who keeps the oil companies protected) were handed money in a sack within a few days with no questions asked, no application and no review process but the alternative energy people, ie: wind, solar and electric cars must pay massive fees, file thousands of pages of paper and wait years to see if they MIGHT get some money. It seems as if there is an intentional program going on to delay alternative energy. Already, multiple solar companies that were waiting for that money have been forced to go out of business by the delay and most of the electric car companies are going to die soon too.
America has finally moved on from the Fission-Fry craze to the Solar, perpetual, or renewable, if you like, powers. Solar, Wind, Wave, Hydro, Tidal and Geothermal are only a few of a much longer list of renewable, or perpetual if you will, power sources – just ask yourself, “When was the last fuel shipment to the Hoover Dam?” and you will begin to get the true potential of Solar and Wind, never mind, Tidal and Geothermal, and half a dozen other variations on the same theme! Remember: if you are crazy enough to start a Fission Fire, you put yourself one human error from and incurable Armageddon – fact. SEE: http://video.google.com/videoplay?docid=-5384001427276447319
And judge for yourself. Keep in mind, that decommissioning old reactor sites is a human impossibility, and the land used is gone , as far as mankind is concerned, forever! When the good folks of Chernobyl return home to farm their land, it will be time for more nuclear installations in my beautiful, clean North America, and not a goddamn day sooner! Please feel free to copy and forward this message to the world.
P.S “Big Oil” is running out of product – “secret” satellite surveys show this! But they are not running out of money and in the U.S. money is all that counts!
Solar power is the most expensive method of producing electrical energy. Obama should be congratulated for supporting one industry and putting nails the jobs coffin for other industries.