Viewing post #704402 by Aguane

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You are viewing a single post made by Aguane in the thread called DOE $1.4 Bil solar loan program - Project Amp.
Jun 28, 2011 5:10 PM CST
Name: Susie
Phoenix AZ
“Washington D.C. - U.S. Energy Secretary Steven Chu today announced the offer of a conditional commitment to provide a partial guarantee for a $1.4 billion loan to support Project Amp. This project will support the installation of solar panels on industrial buildings across the country, with the electricity generated from those panels contributing directly to the electrical grid, as opposed to powering the buildings where they are installed. Supported by funding from the 2009 stimulus bill, the solar generation project includes the installation of approximately 733 megawatts (MW) of photovoltaic (PV) solar panels, which is nearly equal to the total amount of PV installed in the U.S. in 2010. The project sponsor estimates Project Amp will create at least one thousand jobs over a four year period. “ (inactive) (ACTIVE LINK)

This is a somewhat complicated funding of a viable energy program. Frankly, I can’t see why Bank of America Merrill Lynch should be considered for award of a loan for Project Amp… they did a bad job with the Loan Mod effort re housing debacle and are still being investigated. But, the goals look good, worth the effort, hopefully will be well monitored to avoid fraud. It’s odd to think the $1.4 Bil is our income taxes at work, collected by the gov’t, given to private corporation (TARP participant) and managed by same, creates energy that we purchase. Odd.
"There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle." --Albert Einstein

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