DOE Backs $90.6 Million Loan to Build Solar Power Plant

Steven Lake
Steven Lake Solar Expert Posts: 402 ✭✭
in Solar Product Reviews & Opinions #1
http://cnsnews.com/news/article/doe-backs-906-million-loan-build-solar-power-plant

Given the two recent solar bankruptcies, I find this interesting. On a side note, the Energy Secretary OKs $43 Million to Study Offshore Wind Power.

Not sure what effects this will have on green power, but it'll be interesting either way.
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  • The Original Ralph
    The Original Ralph Solar Expert Posts: 50 ✭✭✭✭
    #2
    Re: DOE Backs $90.6 Million Loan to Build Solar Power Plant

    let's hope it's going to a company that has the ability to use it properly. Read a story in WSJ re Solyndra, and one energy industry analyst was quoted as saying that when he heard about the 1/2 billion loan guarantee he couldn't believe, based on the business model they'd proposed in their prospectus. When asked what he meant, his response, literally was: "you can't propose to build something at a cost of $6 per unit, and to sell it for $3 per unit, and expect to stay in business long".

    looks like solyndra was a $535 million photo op for the admin, at taxpayers expense
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  • Steven Lake
    Steven Lake Solar Expert Posts: 402 ✭✭
    #3
    Re: DOE Backs $90.6 Million Loan to Build Solar Power Plant

    Yeah, that's kinda what I gathered from the whole solar blowup and bankruptcy thing. It makes you wonder what he got out of this whole thing. Someone there had to know either Obama, or someone close to him, in order to get this fast tracked and approved, despite the obvious signs that the company was a dud. If he really wanted a poster child company, he should have invested in one that was doing good and had a chance of prospering from the stimulus money. That's one reason I smell bad money with all this.
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  • BB.
    BB. Super Moderators, Administrators Posts: 33,613 admin
    #4
    Re: DOE Backs $90.6 Million Loan to Build Solar Power Plant

    Not that anyone has gone over the line--we do allow "solar related" political discussions here... However, I just want to remind everyone that we try to be a technical support community first and the political stuff can have blow-back among our friends here.

    Sincerely,
    -Bill
    Near San Francisco California: 3.5kWatt Grid Tied Solar power system+small backup genset
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  • Steven Lake
    Steven Lake Solar Expert Posts: 402 ✭✭
    #5
    Re: DOE Backs $90.6 Million Loan to Build Solar Power Plant

    Sorry. Wasn't trying to get into a politics debate. ^_^;; I just saw something interesting and wanted to share it. :blush:
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  • BB.
    BB. Super Moderators, Administrators Posts: 33,613 admin
    #6
    Re: DOE Backs $90.6 Million Loan to Build Solar Power Plant

    Don't worry, nothing was a problem yet. More worried that people will want to defend/object to certain facts and characterizations. Very easy to get out of hand.

    We want full and complete discussions and try to avoid active moderating.

    -Bill
    Near San Francisco California: 3.5kWatt Grid Tied Solar power system+small backup genset
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