The Department of Energy Lends Support for a Massive Arizona Solar Power Project
The government is serious about its support for green energy. The DOE just announced a $976 million loan support guarentee for a massive solar array that's moving forward in Arizona. It's just one of 17 clean energy projects planned for future development that will be totaling over $17 billion. This loan guarantee affirms the Obama Administration's commitment to provide green energy incentives.
- New York, NY (1888PressRelease) January 25, 2011 - U.S. Energy Secretary Steven Chu today announced a loan guarantee of up to $967 million that is being offered conditionally to Agua Caliente Solar, LLC a project sponsored by NRG Solar. "Solar projects like this are helping the U.S. to compete globally for the clean energy jobs of today and the future," said Secretary Chu. "The Obama Administration is committed to bringing innovative renewable energy technologies to the market to support the country's transition to a clean energy economy."
The loan guarantee, one of 17 allotted to support clean energy projects totalling over $17 billion, will support the construction of a 290-megawatt photovoltaic solar generating facility located in Yuma County, Arizona. First Solar, Inc will provide the thin film solar panels technology for the project. These projects when complete will produce more than 37 million megawatt-hour of clean energy that will power approximately 3.5 million homes.
The project's sponsor, NRG Solar, estimates the project will be the largest photovoltaic generation facility in the world when it is completed. NRG Solar LLC is a company dedicated to developing utility-scale solar projects to produce clean, renewable electricity for utility and municipal customers. They are a Fortune 500 and S&P 500 Index company that owns and operates one of the country's largest and most diverse power generation portfolios at the following locations.
When this project is complete and at full capacity approximately 100,000 homes will be the beneficiaries of clean, emissions-free electricity thus removing approximately 237,000 metric tons of greenhouse gas emissions per year. To get a better understanding this is the same as taking more than 40,000 cars off the road annually. It's clear that the Obama Administration is intent about pushing its alternative energy agenda forward. The government also provides incentives to the average homeowners through tax credits, tax deductions as well as rebates on a variety of green energy projects.
Richie Vee, Chief Engineer of one of the largest Platinum LEED buildings in NYC and editor of www.home-solar-power-guide.com, says, "Although this loan guarantee is for large corporations it's obvious that the government wants to help in promoting green technology. This is good for everyone and now is the time for the average homeowner to seriously consider making the switch."
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