02 August 2012
In response to the US House Committee on Energy and Commerce approval of H.R. 6213, the No More Solyndras Act, Rhone Resch, President and CEO of the Solar Energy Industries Association (SEIA), pointed out the "significant economic and energy policy benefits" of the Department of Energy Loan Guarantee Program.
“Both Congress and the administration identified ways to improve the Department of Energy (DOE) Loan Guarantee Program to ensure that taxpayer dollars are protected and used wisely. Unfortunately, the bill passed by the committee today disregards the significant economic and energy policy benefits associated with the program.
“Loan guarantee programs have successfully promoted bipartisan projects such as transportation, health care, education, housing and energy infrastructure policies. In solar alone, the DOE Loan Guarantee Program is providing crucial financing to support the construction of 11 utility-scale solar power plants in the Southwest that will produce 2700 megawatts (MW) of safe, clean power – enough to power 630,000 homes. These are financially sound projects with guaranteed revenue streams.
“We must improve and preserve the integrity of the DOE Loan Guarantee Program rather than hinder our nation’s ability to develop innovative energy infrastructure projects.”
The measure has been reported to the full US House of Representatives for further consideration.
The US solar energy industry employs 100,000 Americans at more than 5,600 companies, mostly small businesses, across the nation in all 50 states.