SEIA Statement on First Department of Energy Loan Guarantee For UTILITY-SCALE Solar Project

Loan guarantees will help create more jobs, deploy more clean energy

WASHINGTON, DC – Solar Energy Industries Association President and CEO Rhone Resch released the following statement on Energy Secretary Steven Chu’s announcement today that BrightSource, a SEIA member company, was awarded a Department of Energy loan guarantee of $1.37 billion. The project is expected to create approximately 1,000 construction jobs and 86 permanent jobs.
“Today’s announcement is just one more powerful example of how the solar industry is a major part of our nation’s economic recovery.  DOE should be commended for taking this critical step toward provide financing for our 21st century clean energy infrastructure.  We hope this loan guarantee is a signal that DOE will begin approving the dozens of other projects that have applied for loan guarantees and let solar reach its full potential as a major employer in the U.S.
 “With  nearly 17 gigawatts of utility-scale solar projects in the pipeline, the solar industry is poised to power 3.4 million homes and put more than 100,000 Americans back to work across the country.  But to get these projects deployed quickly, we need Congress to replenish the $2 billion it borrowed from the Loan Guarantee Program to fund the Cash for Clunkers program.”
Background Resources: 
More than 120 U.S. Utility-scale Solar Projects in Operation, Under Development
Two dozen utility-scale solar plants are operational with a total capacity of 517 megawatts.
There are 100 such projects in the pipeline under construction (10) and various stages of development and permitting (90) totaling 16.6 gigawatts, enough to power 3 million households.
About SEIA:
Established in 1974, the Solar Energy Industries Association is the national trade association of the U.S. solar energy industry. As the voice of the industry, SEIA works with its 1,000 member companies to make solar a mainstream and significant energy source by expanding markets, removing market barriers, strengthening the industry and educating the public on the benefits of solar energy. 
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